In a new report published by the United Nations, North Korea is accused of engaging in cyber attacks, especially targeting banks and other financial institutions in order to get around the issue of restricted access to the global economy. The U.N. report detailing the countries alleged crimes stated that Pyongyang has “stolen money through cyber attacks, creating a pool of illicit funds that has grown since 2016,” According to the report, the total profit garnered by North Korea through its alleged criminal activity online totals to around $670 million. Employing a wide array of techniques and brazenly ignoring sanctions has been North Korea’s strategy for years, however, the U.N. believes digital currencies provide a greater risk because they: “provide the Democratic People’s Republic of Korea with more ways to evade sanctions, given that they are harder to trace, can be laundered many times and are independent from government regulation.” Learn more on this topic on Brave New Coin

Karen Holleran

Karen Holleran Editor @aikarensf Karen is a proud third generation San Franciscan, and has worked in various positions including developer relations, winemaking, freelance writing, and as a teaching assistant for autistic children. She is passionate about disruptive tech, artificial intelligence, cryptocurrencies, and blockchain technology. She is excited at how these technologies can improve the quality of life for people globally. When Karen isn’t busy discovering new things, you can find her enjoying the diversity of the Bay Area, keeping up to date on the latest tech news, or relaxing at home with her beloved rescued cat.

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