- North Korean hackers stole $1.3B in crypto, which is 61% of global theft.
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South Korea criticizes North Korea's cyber activities, linking them to missile financing.
South Korea has imposed sanctions on 15 North Korean individuals and one organization for illegal activities, including cyber theft of cryptocurrencies. The South Korean government has taken measures in response to intense pressure to address North Korean cyber activity. This move highlights the urgency of combating the threat in cyberspace. These activities are not only a serious threat to cybersecurity but also to global peace and security.
North Korean cybercriminals have been using illicit funds to fund the country's nuclear and missile development programs with digital assets. According to a blockchain analytics company ChainalysisNorth Korean hackers stole a staggering $1.3 billion, which accounts for 61% of all crypto thefts worldwide. The FBI has accused these hackers of organizing some of the biggest crypto heists. The alleged crimes include stealing $308 million from the DMM Bitcoin exchange.
This attack involves the imposition of sanctions against the 313th General Bureau unit of North Korea's cyber cybercriminals which has been responsible for numerous hacks into crypto currency theft. The Unit operates under the Workers' Party's Arms Industry Department, managing arms production and research in North Korea. It plays a key role in improving the country's military capabilities. South Korea deals with this threat by responding to North Korea's strategy of financing its military activities with illegitimate money. The growing threat has drawn more attention to South Korea and countermeasures.
Increasing global cyber threats
The South Korean government has revealed the tactics used by North Korean IT workers to infiltrate groups. These people are sent abroad under an alias to do hacking work. Reports indicate that North Korea's cyber force is operating in key sectors such as defense and IT around the world. This group guides the regime's strategy to finance its military agenda through digital crimes.
This is at a time when the UK The National Crime Agency recently revealed a massive $1 billion money laundering scheme that used both crypto and cash. Such coordinated global moves, along with sanctions, are important for investigating cybercrime and keeping emerging technologies such as blockchain and cryptocurrency on the way. South Korea's proactive stance against North Korea's cyber activities shows how quickly it is dealing with the illegal theft of digital assets. It underlines the international need for cooperation in effectively combating cyber.
