![North Korea grows nuclear, missiles programs, profits from cyberattacks North Korea grows nuclear, missiles programs, profits from cyberattacks](https://varindia.com/storage/news/uploads/2018/02/620104775ff9f.jpg)
According to an excerpt of a confidential United Nations report, 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.
The United States and others said that North Korea had carried out nine ballistic missile launches in January, adding it was the largest number in a single month in the history of the country's weapons of mass destruction and missile programs.
North Korea is formally known as the Democratic People's Republic of Korea (DPRK). It has long-been banned from conducting nuclear tests and ballistic missile launches by the U.N. Security Council.
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.
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.
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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