The United States, Japan, and South Korea have issued a joint warning about the ongoing cyberattacks launched by the Democratic People’s Republic of Korea (DPRK) cyber actors. These attacks target blockchain tech, crypto exchanges, and digital asset custodians globally.
The three nations suggest that the DPRK’s cyber program poses a huge threat to the integrity and stability of the international financial system. The advanced persistent threat groups. like the infamous Lazarus Group, are responsible for numerous exploits to steal crypto assets. The massive hack of over $230 million of an Indian crypto exchange, WazirX, was carried out by the same entity.
North Korea’s cyber heists
As per the release, the three countries are working together to prevent thefts initiated by North Korea and to recover stolen funds. They hold an ultimate goal of cutting out the DPRK’s illicit revenue for its unlawful weapons of mass destruction and ballistic missile programs.
Just in 2024 alone, the DPRK has been linked to the DMM Bitcoin theft of $308 million, the Upbit hack of $50 million, and the Rain Management exploit for $16.13 million. It also mentioned the massive hacks of WazirX for $235 million and Radiant Capital for $50 million.
It added that the United States government has observed aggressive targeting of the crypto industry by the DPRK. The hackers came in well-disguised, deploying malware such as TraderTraitor, AppleJeus, and others. However, Japan and the Republic of Korea also observed similar trends and tactics.
The top agencies from the three countries have published several notifications regarding the DPRK information technology workers, as this also presented an insider threat to private sector partners. They propose a deeper collaboration among the public and private sectors of the three countries. This is essential to disrupt malicious actors’ cybercrime operations and secure the international financial system.
Lazarus stole $659M in 2024
The North Korean hackers reportedly stole at least $659 million through crypto loots in 2024. The United Nations has estimated that these exploiters have stolen around $3 billion worth of crypto between 2017 and 2023 to fund its sanctioned nuclear weapons programs.
Chainalysis reported the funds stolen jumped by around 21% YoY to $2.2 billion in 2024. It highlighted that the number of individual hacking incidents increased from 282 in 2023 to 303 last year. Meanwhile, the intensity of crypto hacking shifted about halfway through the year. It added that the cumulative value stolen between January 2024 and July 2024 already reached $1.58 billion. It was around 84.4% higher than the value stolen over the same period in 2023.
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Source: https://www.cryptopolitan.com/us-japan-korea-issue-strong-warning-on-dprk/