North Korea funds its nuclear weapon by stealing crypto currencies across the globe. It has got many hacker groups on the board to garner funds. Not just that the country’s military operations also draw significantly from crypto currencies. But with the collapse of FTX questions over the sustainability of the nuclear program have started building up. Will it survive?

Crypto currencies have opened a new sphere of contention. Many countries have raised flags against the burgeoning crypto currency market. The main concern is the fact that crypto currency circulates without any regulation. The decentralized system facilitates a fertile ground for many illegal activities. Among them money laundering tops the chart. Countries are resorting to these instruments to raise funds for bolstering terrorism and other activities. Not just that North Korea’s nuclear program also builds itself on the support of crypto currency. Therefore eyes are on its prospects now.  

Democratic People’s Republic of Korea’s nuclear program is back in the news. Thanks to the recent collapse of FTX experts have huddled to portend its future. The country is reeling under stringent sanctions for its nuclear program. These sanctions work effectively to cut the supply of funds for its nuclear plan. However the evolution of crypto currency has dampened its effect.

North Korea has been accessing this market to corner funds for its nuclear program. It has been stealing crypto currency to bolster its plans. To make that effort it has got many hackers on the board. The list includes groups like Lazarus Group (Guardian of Peace and Whois Team) and Advanced Persistent Threat 38 (APT38). Given the opacity of North Korea’s system there is no clarity on the number of hackers working on the platform.

However according to experts the figure is between 6000-7000. To one’s surprise they work both inside and outside the country. They have been digging hard to mine and steal crypto currency for the country. Not just that it has also invested in building its national cybercrime platform for 15 years. Therefore it cherishes a strong standing on that front.

Its hackers are helping it in a significant way. According to experts Lazarus hackers were only a few clicks away from stealing US$1 billion from Bangladesh’s national bank. However a typo in the computer code saved the day for the bank. They could manage to get away with US$81 million.   

But that did not discourage them from carrying out their nasty sprees. On the contrary it has gone ahead to varnish its methods. Delivering on that note Lazarus has gained accusations of stealing US$571 million from crypto currency exchanges between January 2017 and September 2018. Not just that the figure stands at US$316 million from 2019 to November 2020. Adding to that the group also stole US$840 million in the first five months of 2022.  

Among their theft bids the NFT heist continues to gain traction. Lazarus gathered the chunks against the NFT-based online game Axie Infinity. According to US authorities the group managed to steal US$620 million.

However the recent crash of the world’s second-largest crypto exchange FTX has pulled the strings down. It has raised questions about North Korea’s potential to brave it. According to Nick Carlsen (blockchain analyst and former FBI analyst) one of North Korea’s crypto caches had lost 80% to 85% of its value (tumbling to less than US$10 million) in June.

Therefore North Korea stands in a vulnerable position. Its nuclear program faces grave risks. However only time will show the real impact of FTX’s crash on its nuclear program.