South Korea Escalates Measures Against North Korean Crypto-Related Cybercrimes
by aria-crypto.com
December 26, 2024 at 11:06
South Korea Escalates Measures Against North Korean Crypto-Related Cybercrimes
South Korea has unveiled sanctions against 15 North Korean individuals and one organization for their involvement in cryptocurrency thefts and cybercrimes. These actions are part of a concerted effort to dismantle North Korea's cybercrime operations, which finance its weapons programs. The individuals are linked to Bureau 313, a unit known for supervising North Korea's ballistic missile productions as imposed by UN sanctions since 2016. Notably, one of the sanctioned, Kim Cheol-min, was revealed to have infiltrated IT firms in North America to siphon funds to Pyongyang. This move aligns with global efforts, including recent U.S. sanctions, prompted by an FBI investigation that connected North Korean actors to a significant theft from a Japanese crypto firm. Overall, North Korean cyber operatives are responsible for over $1.34 billion in crypto thefts last year, marking a substantial threat to international financial security. These sanctions are a crucial step in curbing North Korea's illicit financial activities and strengthening global cybersecurity defenses.
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