The United States, Japan and South Korea issued a joint warning against the growing threat presented by cryptocurrency hackers associated with the Democratic People’s Republic of Korea (DPRK).
Groups such as the notorious Lazarus Group are prime suspects in some of the biggest cyber thefts in Web3, including the $600 million Ronin network hack and the $230 million hack on the WazirX exchange.
North Korean hackers now pose a significant threat to the “integrity and stability of the international financial system,” according to a joint announcement published on Jan. 14.
The statement suggested North Korea aims to fund its ballistic missile programs through cryptocurrency theft:
“Our three governments strive together to prevent thefts, including from private industry, by the DPRK and to recover stolen funds with the ultimate goal of denying the DPRK illicit revenue for its unlawful weapons of mass destruction and ballistic missile programs.”
The announcement emphasized collaboration among the public and private sectors of the three nations to proactively combat these cybercrime operations.
Joint Statement on Cryptocurrency Thefts by the Democratic People’s Republic of Korea and Public-Private Collaboration. Source: Mofa.go.jp
The joint announcement comes nearly three weeks after South Korean authorities sanctioned 15 North Koreans for allegedly generating funds for North Korea’s nuclear weapons development program through cryptocurrency heist and cyber theft.
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North Korea hackers stole at least $1.3 billion in 2024
North Korean-affiliated hackers have become a significant threat to the legitimacy of the crypto space.
During the past year, North Korean hackers were also responsible for the $305 million DMM Bitcoin hack, the $50 million Upbit hack, the $50 million Radiant Capital hack and the $16 million Rain Management hack, according to the joint statement.
Throughout 2024, North Korean hackers stole over $1.34 billion worth of digital assets across 47 incidents, marking a 102% increase from the $660 million stolen in 2023,…
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