A preliminary United Nations inquiry into the theft of 281 million dollars in cryptocurrency exchange assets from September “strongly suggests” links to North Korea – with industry analysts pointing to Seychelles-based KuCoin as the victim of one of the largest reported digital currency heists.
A confidential report by independent sanctions monitors to UN Security Council members said blockchain transactions related to the hack also appeared to be tied to a second hack last October when 23 million dollars was stolen.
“Preliminary analysis, based on the attack vectors and subsequent efforts to launder the illicit proceeds, strongly suggests links to the [Democratic People’s Republic of Korea],” the monitors wrote. They accuse Pyongyang of using stolen funds to support its nuclear and ballistic missile programs to circumvent sanctions.
Digital currency exchange KuCoin reported the theft of 281 million dollars in bitcoin and other tokens on September 25.