Key Points:
- South Korea, the US, and Japan reported North Korean hackers stole $660 million in cryptocurrency in 2024.
- Notorious groups like the Lazarus Group were linked to major cyber thefts.
- The three nations urged the private sector to strengthen cybersecurity and avoid hiring North Korean IT workers.
On Jan 14, South Korea, the US, and Japan, through their respective foreign ministries, issued a statement cautioning about the increased threat to the cryptocurrency business by North Korean hackers.
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North Korean hackers STEAL record-breaking $660 million in cryptocurrency
The three countries said North Korean hackers stole around $660 million in cryptocurrency in 2024. Among the high-profile thefts were $308 million from DMM Bitcoin, $235 million from WazirX, $50 million each from Upbit and Radiant Capital, and $16.13 million from Rain Management.
These include groups like the notorious Lazarus Group, which were identified as key players in these cyberattacks, also including past high-profile hacks such as the $600 million Ronin network breach.
The joint statement underlined a disturbing pattern of “well-disguised” attacks involving malware deployment and other sophisticated techniques to target blockchain platforms and exchanges.
Nations Urge Stronger Cybersecurity in the Blockchain Industry
The warning described the North Korean cyber program as a grave threat to the stability of the global financial system. The stolen funds support North Korea’s weapons of mass destruction and ballistic missile programs, U.S. officials believe.
In response to the threats, the three governments imposed sanctions on North Korean hackers, such as the Lazarus Group. They also encouraged the private sector to follow the advisory guidelines intended to harden cybersecurity defences and prevent unwitting collaboration with North Korean IT workers.
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