UN official says crypto makes cybercrime fighting harder

A United Nations (UN) official has said that cryptocurrencies make global efforts to fight cybercrime “significantly” harder, due to their pseudonymous nature.

Neil Walsh, chief of the cybercrime and anti-money laundering section of the UN's Office on Drugs and Crime, made the comments in an interview with Australian Broadcasting Corporation (abc.net.au) on Thursday.

Walsh warned that criminals include global child sexual exploitation networks, which are more widespread than much of the public understands.

Earlier this month, the UN said that North Korea has collected an estimated $2 billion by hacking cryptocurrency exchanges and financial institutions to fund its nuclear programs.

South Korea was hit hardest from North Korean cyberattacks, the intergovernmental organization said, adding that it is currently investigating 35 North Korea cyberattacks in 17 countries.