North Korea has hacked $1.2 billion in crypto and other assets for its economy

In this photo provided by the North Korean government, North Korean leader Kim Jong Un attends a ruling party congress in Pyongyang on Jan. 12, 2021. North Korean hackers have stolen an estimated 1.5 trillion won ($1.2 billion) in cryptocurrency and other virtual assets in the past five years, South Korea's spy agency said Thursday. (Korean Central News Agency/Korea News Service via AP, File)

SEOUL, South Korea — North Korean hackers have stolen an estimated 1.5 trillion won ($1.2 billion) in cryptocurrency and other virtual assets in the past five years, more than half of it this year alone, South Korea's spy agency said Thursday.

Experts and officials say North Korea has turned to crypto hacking and other illicit cyber activities as a source of badly needed foreign currency to support its fragile economy and fund its nuclear program following harsh U.N. sanctions and the COVID-19 pandemic.