North Korea continued to develop its nuclear and ballistic missile programs during the past year and cyberattacks on cryptocurrency exchanges were an important revenue source for Pyongyang, according to an excerpt of a confidential United Nations report seen on Saturday by Reuters.
The annual report by independent sanctions monitors was submitted on Friday evening to the U.N. Security Council North Korea sanctions committee.
Since 2006, North Korea has been subject to U.N. sanctions, which the Security Council has strengthened over the years in an effort to target funding for Pyongyang's nuclear and ballistic missile programs. North Korea's mission to the United Nations in New York did not immediately respond to a request for comment.The monitors said "cyberattacks, particularly on cryptocurrency assets, remain an important revenue source" for North Korea and that they had received information that North Korean hackers continued to target financial institutions, cryptocurrency firms and exchanges.
The latest report said North Korea's strict blockade in response to the COVID-19 pandemic meant "illicit trade, including in luxury goods, has largely ceased."
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