Bitcoin Ambles Make North Korea’s Nuclear Program Collapsed?

Jakarta –

Exchange rates crypto currency which has fallen drastically, including bitcointhreaten the development of the program nuclear from North Korea.

North Korea has recently been accused of hoarding cryptocurrencies stolen by hackers. Including the largest cryptocurrency theft in history that occurred in March 2022, which according to the US Treasury involved $615 million worth of cryptocurrency.

Well, according to researchers, this cryptocurrency is the main source of funding for various major programs in North Korea, including its nuclear weapons program.

However, the decline in the value of cryptocurrencies that has occurred since last May has made North Korea’s economic condition chaotic. According to sources from the South Korean government, these conditions also have an impact on North Korea’s weapons program.

Mainly because North Korea is diligently testing its missiles, which according to the Korea Institute for Defense Analyses in Seoul, are valued at up to $620 million.

North Korea itself, according to Chainalysis, still has cryptocurrencies obtained from 49 hacks that occurred from 2017 to 2021, and its value has decreased from USD 170 million to USD 65 million.

Even one of North Korea’s cryptocurrencies stolen in 2021 worth tens of millions of dollars in value has decreased by at least 80%, to less than USD 10 million.

North Korea has denied this allegation. A source from the North Korean embassy in London said he could not comment on North Korea’s chaotic financial condition due to the sinking in the value of cryptocurrencies because the news was fake news.

“We didn’t do anything,” said the person who answered the phone at the North Korean embassy and claimed to be a diplomat. North Korea’s foreign ministry also called this accusation US propaganda.

Eric Penton-Voak, coordinator for a panel of experts monitoring North Korea’s sanctions, said cyberattacks were a mainstay for North Korea to evade sanctions from other countries and raise money to fund its nuclear and missile programmes.

In 2019, it was estimated that North Korea could raise $2 billion from cyberattacks for the development of weapons of mass destruction. Then there is another estimate that North Korea spends $640 million a year on the development of nuclear weapons.

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(asj/afr)

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