US, Japan, and South Korea Unite Against North Korean Hackers
The United States, Japan and South Korea issued a joint statement today warning of North Korean cryptocurrency hackers. The countries urge deeper cooperation between the public and private sectors to eliminate cybersecurity threats.
North Korean hackers stole at least $1.3 billion in digital assets in 2024. The statement suggests that the country aims to use the illicit funds to fund its ballistic missile program.
Call for transnational public-private cooperation
The United States, Japan and South Korea issued a joint statement condemning North Korea, emphasizing that it poses a significant threat to the integrity and stability of the international financial system and the broader international community.
“Our three governments work together to prevent North Korea’s theft, including from private industry, and recover stolen funds, with the ultimate goal of preventing North Korea’s illicit weapons of mass destruction and ballistic missile programs from illicit proceeds.” statement read.
According to the information provided, North Korean hackers targeted cryptocurrency exchanges, digital asset custodians, and individual users.
Investigation shows that some North Korean cyberattacks were carried out by North Korean IT workers who Penetrating Cryptocurrency and Web3 Companiesharming their networks and operations.
“The United States, Japan, and South Korea recommend that private sector entities, particularly those in the blockchain and freelance industries, thoroughly review these recommendations and advisories to better inform cyber threat mitigation measures and reduce the risk of inadvertently employing North Korean IT employees risk.”
The announcement also highlights the need for greater collaboration between the public and private sectors in the three countries to proactively combat these cybercriminal activities.
North Korean hackers steal record amounts in 2024
North Korea-linked hackers are notorious for their sophisticated and sustained cyberattacks. These attacks often involve the use of advanced malware, social engineering techniques, and cryptocurrency theft to fund state-sponsored operations and circumvent international sanctions.
according to Research According to Chainaanalysis, North Korea-related hackers stole approximately $660.5 million through 20 incidents in 2023. In 2024, this figure rose to $1.34 billion across 47 incidents, an increase of more than 102%.
U.S. and international officials have assessed that North Korea uses stolen cryptocurrency funds to fund its weapons of mass destruction and ballistic missile programs. These activities constitute poses a major threat to international security.
Three weeks ago, South Korea sanctioned 15 members of North Korea’s IT group for allegedly funding its domestic nuclear weapons development program.
“In particular, it is known that North Korean IT personnel, as employees of regime-affiliated agencies such as the Ministry of Defense, are sent to China, Russia, Southeast Asia, Africa and other countries to disguise their identities and accept jobs from IT companies around the world, and some of them are also employed by Believed to be involved in information theft and cyberattacks,” read statement Released by the Ministry of Foreign Affairs of South Korea.
Hackers also use illicit funds to develop military-related software.
Most notably, North Korea Lazarus Group, a notorious hacker grouphas carried out some of the largest cyber thefts in the Web3 space.
“Advanced persistent threat organizations related to North Korea, including the Lazarus Group designated by relevant authorities in our three countries, continue to exhibit patterns of malicious behavior in cyberspace,” said a joint statement issued by the United States, Japan, and South Korea.
Last October, US government seizes Bitcoin, Tether linked to Lazarus group After the group stole $879 million. The U.S. government also filed two legal actions and seized more than $2.67 million worth of stolen digital assets.
According to the documents, the seizure order Solve two major hacking problems. This includes $1.7 million USDT and more than $970,000 worth of Bitcoin stolen from the Deribit options exchange.
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