South Korea has imposed sanctions on 15 North Korean individuals and one associated group linked to cyber thefts. According to a December 26 release from South Korea’s Ministry of Foreign Affairs, these agents have allegedly funded North Korea’s nuclear weapons program through illicit cryptocurrency activities. Among them is Kim Cheol-min, accused of working covertly for U.S. and Canadian companies to funnel funds to Pyongyang. Kim Ryu Song, another sanctioned individual, faces money laundering charges for generating over $88 million in revenue, according to The Hacker News.
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North Korean Hackers Steal over $1.3 Billion in Crypto
North Korea’s hacking efforts have been a significant concern in 2024. North Korean-affiliated hackers were responsible for stealing a staggering $1.34 billion worth of cryptocurrency, accounting for over 60% of the total stolen globally. The total value of crypto thefts soared by 40% compared to 2023. As Chainalysis reports, these hackers are becoming more efficient, with frequent attacks now yielding large sums, sometimes exceeding $100 million.
Chainalysis Reports Increased Frequency of Large-Scale Attacks
This crackdown highlights the growing threat North Korean hackers pose to global cybersecurity and crypto assets. According to Cointelegraph, these attacks have only intensified despite a decrease in overall incidents.
