North Korea amassed USD 670 million through global cybertheft

New York: Faced with harsh economic sanctions, North Korea has amassed around $670 million in foreign and virtual currency through cyberthefts, according to a UN panel, the Nikkei Asian Review reported on Friday. Detailing for the first time on how North Korea acquires foreign currency through cyberattacks, a panel of experts told the UN Security Council’s North Korea sanctions committee that Pyongyang has used Blockchain, the basic technology behind cryptocurrencies, to cover its tracks.