In a stark revelation, South Korea, the United States, and Japan have identified North Korean hackers as the culprits behind a staggering $659 million in cryptocurrency thefts in 2024. This alarming development underscores the urgency of combating North Korea’s cyber activities, which are primarily aimed at funding its illicit weapons programs.
Among the significant breaches highlighted, North Korea hacked $235 million from the India-based bitcoin exchange WazirX. Additionally, the hackers siphoned off $50 million from Radiant Capital and around $374 million from other platforms, including DMM Bitcoin, Upbit, and Rain Management. This marks a notable escalation in North Korea’s cyber theft tactics, as detailed in a joint statement released on Tuesday.
The three countries have labeled certain North Korean hacking groups, notably the Lazarus Group, as targets for sanctions. Their operations have displayed a consistent pattern of malicious behavior, employing sophisticated attacks that often deploy malware. This trend reflects a growing threat to the global financial landscape, raising alarms about the safety of digital assets.
The statement serves as a caution to the blockchain technology sector. It warns of the ongoing risks posed by North Korean cybercriminals. The joint statement pointedly notes, “The DPRK’s cyber program poses a significant threat to the integrity and stability of the international financial system.” This acknowledgment highlights the need for vigilance within the industry.
In a united front, the three nations stressed their commitment to thwarting thefts linked to North Korea. They aim to recover stolen assets and ultimately impede the regime’s funding for its weapons of mass destruction and ballistic missile initiatives. The trio also urged private companies to carefully examine advisories from their respective authorities. This will help strengthen defenses against cyber threats and reduce the risk of inadvertently employing North Korean IT workers.
As North Korea continues to evolve its cyber strategies, the message from South Korea, the U.S., and Japan is clear: cooperation is essential in countering these threats. The stakes are high, and the need for a united response has never been more pressing. The ongoing battle against North Korean cybercrime will require vigilance and collaboration among nations and the private sector alike. (YONHAP)
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