Investigative cyber journalist Geoff White told Sam Homewood on From The Newsroom that North Korea's Lazarus Group is suspected of stealing up to £6 billion, including a £4.7 billion Binance crypto robbery, which experts label the largest bank heist ever.
White said the Lazarus affiliate TraderTraitor reportedly took nearly £5 billion in assets from Binance in just 20 minutes, a move he described as having all the hallmarks of a North Korean operation.
He warned that if the trend continues, North Korea could become the "world's first hacktocracy," with hacking potentially generating a growing share of the country's GDP.
According to White, some estimates suggest five percent of North Korea's GDP already comes from hacking, and he speculated that it could eventually reach 100 percent.
Sanctions have forced the regime to seek illicit funding for its nuclear and missile programs, and White explained that stolen billions are funneled into the treasury for missiles, weapons and nuclear material.
White highlighted that North Korean hackers are often young, with reports that primary-school children as young as five are being trained for cyber attacks.
The Binance breach was confirmed by the company, which said the total estimated impact is around $6.3 billion (£4.7 bn).
Previously, the Lazarus Group was linked to a $1.5 billion theft, of which $300 million was cashed, a record until surpassed by the recent crypto grab.
White added that within five to ten years, the country could be entirely supported by hacking proceeds, describing it as a "government entirely supported by the proceeds of hacking."
A separate report by Global Rights Compliance revealed that North Korea is selling labor to Russian firms, a scheme that provides cash and fuel to the DPRK while supplying Russia with workers.
GRC legal advisor Elise Lauriot Prevost told The Sun that cooperation between the DPRK and Russia is strengthening, with each side gaining hard cash, fuel, or manpower.
