South Korea sanctioned 15 individuals and one entity from North Korea for illegal cyber operations, particularly cryptocurrency hacks.
Rising Crypto Theft Operations from North Korean Hackers
North Korean cyber actors have been behind some of the biggest crypto heists. Earlier this year, they were blamed by the FBI for the $305 million theft from Japanese crypto firm DMM Bitcoin. According to Chainalysis, North Korean hackers stole around $1.34 billion in cryptocurrency in 2024.
Working Together on Cyber Security with Other Countries
South Korea and the U.S. have initiated collaborative research to defend against cryptocurrency thefts. The partnership aims to develop tools to track stolen digital assets and prevent cyberattacks linked to North Korean hackers. South Korea's Ministry of Science and ICT, along with leading cyber security experts, play a pivotal role in this effort.
Impacts on International Security
North Korea’s rise in cyber activities, especially cryptocurrency theft, has alarmed the international community. The funds raised are used to finance weapons of mass destruction programs, questioning the effectiveness of sanctions as a deterrent mechanism.
North Korean cyberattacks and cryptocurrency theft are becoming a significant threat to international security. Global powers like South Korea and the U.S. are addressing these challenges through strengthening cyber defenses and expanding international cooperation.
