Saturday, 24 August, 2019

UN probes NKorea for cyberattacks

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Patty Aguilar | 16 August, 2019, 16:18

The UN researchers say that North Korea is also engaging in "mining of cryptocurrency as a source of funds for a professional branch of the military". India followed at second, being a victim of three attacks, whereas Bangladesh and Chile both experienced two.

The experts said they are investigating the reported attacks as attempted violations of United Nations sanctions, which the panel monitors. The intergovernmental organization is investigating 35 North Korea cyberattacks in 17 countries. It can be recalled that Bithumb and four other major crypto exchanges have changed their terms of services to state that they will be held accountable for user losses after a cyberattack or system malfunction.

Thompson said that the USA continues to work with partners and allies as they uphold the UN Security Council sanctions, working hand in hand to ensure that that pressure campaign remains firm with North Korea.

Under U.N. sanctions, North Korea is limited to importing 500,000 barrels of such products annually including gasoline and diesel.

"South Korea will secure ample interception capabilities against new types of ballistic missiles North Korea has recently test-fired", the ministry said in a release. It predicts South Korea's yearly defense budget for 2020 will break the 50-trillion Korean won mark, roughly 41 billion USA dollars, for the first time.

The panel also recommended sanctions against the captain, owner and parent company of the North Korean-flagged Wise Honest, which was detained by Indonesia in April past year with an illegal shipment of coal.

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Moon and North Korean leader Kim Jong Un have met three times since April past year pledging peace and cooperation but little progress has been made to improve dialog and strengthen exchange and cooperation.

South Korea is the most favorite target, suffering from as many as 10 attacks, according to the leaked summary report.

Following last week's report summary which was leaked to the media, showing that North Korea might have allegedly conducted a hack worth $2 billion to fund various weapons programs, The United Nations has made a decision to intervene on the issue. One unnamed nation fell victim to hackers who broke into its infrastructure that managed its whole ATM system to install malware, the panel said.

In South Korea, the experts said, North Korean cyber actors shifted focus in 2019 to targeting cryptocurrency exchanges, some repeatedly. The first two attacks led to the loss $7 million each, with the third attack seeing the exchange lose $31 million.

The panel said it also investigated instances of "cryptojacking" in which malware is used to infect a computer to illicitly use its resources to generate cryptocurrency. In one instance cited by the group, the mined Monero was sent to servers located at Kim IL Sung University in Pyongyang.

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