- North Korea is increasing efforts to send IT workers overseas to fund its weapons programs through cybercrimes.
- US and South Korean officials foresee this trend to escalate as North Korea’s borders potentially open up after Covid lockdown.
- The situation is expected to worsen, with IT being a growth industry and a lucrative revenue generator for the DPRK.
The Democratic People’s Republic of Korea (DPRK) is reportedly intensifying its efforts to position its information technology (IT) workforce in overseas markets as reported by Bloomberg. This move is believed to be an attempt to finance its weaponry programs, primarily through the execution of cybercrimes, according to US and South Korean representatives.
The officials forecast an upsurge in this trend, given the potential loosening of North Korea’s strict Covid-related border restrictions. “As the DPRK considers opening its borders, the dispatching of additional laborers to various parts of the globe could serve as a significant revenue source,” stated Jung Pak, the US deputy special representative for North Korea.
Analysts are concerned about the situation’s escalating severity, with the IT sector emerging as a booming industry in North Korea. The increased IT presence in global markets could exacerbate cybersecurity threats, raising international alarm over North Korea’s covert strategy for arms funding.
Cryptocurrency Security
In the evolving landscape of global finance, protecting one’s cryptocurrency assets is paramount. Cold wallets, which store cryptocurrency offline, offer an added layer of security against cyber threats.
This is particularly crucial considering the escalating cybersecurity concerns worldwide, as exemplified by North Korea’s deployment of IT workers. Cold wallets can keep your cryptocurrency safe, making them a must-have in today’s digital age.
Read also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
