Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    Who Really Owns the Trump Wallet? Magic Eden Silent as Family Threatens Action
    NewsCrypto

    Who Really Owns the Trump Wallet? Magic Eden Silent as Family Threatens Action

    Eric Trump has publicly stated that he has no affiliation with Magic…

    By
    Jane Omada Apeh
    June 4, 2025
    Trump-Linked Truth Social Files to Launch Bitcoin ETF as Crypto Politics Heat Up
    NewsBitcoinCrypto
    Trump-Linked Truth Social Files to Launch Bitcoin ETF as Crypto Politics Heat Up
    June 4, 2025
    BNB price prediction
    NewsCryptoMarket
    Can Binance Coin Flip Ethereum or XRP? Inside BNB’s $1,000 Breakout Potential
    June 4, 2025
    ETH or BTC? How Joe Lubin Says Ethereum Will Power the Future of Global Finance
    NewsCryptoEthereum
    ETH or BTC? How Joe Lubin Says Ethereum Will Power the Future of Global Finance
    June 4, 2025
    Why SOL, DOGE, and XRP Are Getting Hit Harder Than Bitcoin
    NewsCryptoMarket
    Why SOL, DOGE, and XRP Are Getting Hit Harder Than Bitcoin
    June 3, 2025
  • Cryptocurrency
    Who Really Owns the Trump Wallet? Magic Eden Silent as Family Threatens Action
    Who Really Owns the Trump Wallet? Magic Eden Silent as Family Threatens Action
    8 Min Read
    Trump-Linked Truth Social Files to Launch Bitcoin ETF as Crypto Politics Heat Up
    Trump-Linked Truth Social Files to Launch Bitcoin ETF as Crypto Politics Heat Up
    6 Min Read
    BNB price prediction
    Can Binance Coin Flip Ethereum or XRP? Inside BNB’s $1,000 Breakout Potential
    7 Min Read
    ETH or BTC? How Joe Lubin Says Ethereum Will Power the Future of Global Finance
    ETH or BTC? How Joe Lubin Says Ethereum Will Power the Future of Global Finance
    6 Min Read
    Why SOL, DOGE, and XRP Are Getting Hit Harder Than Bitcoin
    Why SOL, DOGE, and XRP Are Getting Hit Harder Than Bitcoin
    6 Min Read
    TRON DAO Flexes at Bitcoin 2025 and How Justin Sun Stole the Spotlight
    TRON DAO Flexes at Bitcoin 2025 and How Justin Sun Stole the Spotlight
    6 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: $1.34 Billion Stolen by North Korean Hackers Sparks South Korea’s Harsh Response
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > Crypto > $1.34 Billion Stolen by North Korean Hackers Sparks South Korea’s Harsh Response
CryptoNews

$1.34 Billion Stolen by North Korean Hackers Sparks South Korea’s Harsh Response

$1.34 Billion Stolen by North Korean Hackers Sparks South Korea’s Harsh Response
$1.34 Billion Stolen by North Korean Hackers Sparks South Korea’s Harsh Response
Victoria James
Last updated: December 26, 2024 8:51 am
By
Victoria James
Published December 26, 2024
6 Min Read
Share

South Korea hit 15 North Korean individuals and one entity with sanctions related to illegal cyber operations, particularly cryptocurrency hacks. 

Contents
Rising Crypto Theft Operations from North Korean HackersWorking Together on Cyber Security with Other CountriesImpacts on International SecurityFAQs

They were connected to a group called Bureau 313, part of the Workers’ Party of Korea’s Machine-Building Industry Department, which has been sanctioned by the United Nations since 2016 for its oversight of North Korea’s weapons production, including ballistic missiles.

The Ministry of Foreign Affairs pointed out that North Korean IT personnel are sent abroad—the Ministry noted regions such as China, Russia, Southeast Asia, and Africa—disguised as members of legitimate organizations. They sign contracts with foreign IT companies, carrying out everything from information theft to launching cyberattacks.

Another, a man named Kim Cheol-min, had penetrated it companies in countries like the United States and Canada, transmitting a significant amount of foreign currency back to Pyongyang. Furthermore, one sanctioned entity leads hundreds of IT workers overseas, providing the regime and the country’s military with significant funds.

crypto heists
$1.34 Billion Stolen by North Korean Hackers Sparks South Korea’s Harsh Response

Rising Crypto Theft Operations from North Korean Hackers

North Korean cyber actors have been behind some of the biggest crypto heists to date. In January, for example, North Korean cybergangs were blamed by the Federal Bureau of Investigation for the $305 million theft last year of funds from a Japan-based crypto firm, DMM Bitcoin, an incident that forced DMM to shut down.

The U.S. Treasury Department has also imposed sanctions against individuals and firms that have been involved in laundering cryptocurrencies for North Korea, including operations located in the United Arab Emirates.

Data from the blockchain analytics firm Chainalysis show North Korean hackers stole about $1.34 billion in cryptocurrency in 47 incidents in 2024. This represents 61% of all remaining crypto assets stolen globally so far this year,3 highlighting a massive surge in the scale and frequency of such attacks.

Working Together on Cyber Security with Other Countries

Details on how South Korea and the United States have begun collaborative research to better defend against these types of cryptocurrency thefts emerge amid the growing threat. The partnership is expected to establish tools to trace misplaced digital assets and block further cyberattacks connected to North Korean hackers.

This will be supported by South Korea’s Ministry of Science and ICT and involves leading institutions and experts focused on tackling the growing cyber threat. The collaboration emphasizes a mutual dedication to enhancing the security of crypto at an international level.

cyberattacks
$1.34 Billion Stolen by North Korean Hackers Sparks South Korea’s Harsh Response

Impacts on International Security

North Korea‘s recent surge in cyber activities — especially those involving cryptocurrency theft — has alarmed the international community for posing serious threats to global peace and security. 

And funds raised from these activities are known to fund North Korea’s weapons of mass destruction and ballistic missile programs, raising geopolitical tensions.”

The issue of sanctions as a deterrent has come under intense scrutiny in recent years as the world tries to come to grips with the effectiveness of sanctions and the role of cybercrime in supporting such programs. 

And the effort that South Korea and the U.S. are making to address these threats is just a small part of what we will discuss.

North Korean hackers are using more sophisticated methods — including impersonating remote IT workers to gain access to companies — and the international cybersecurity landscape needs to adapt. 

So, a fair amount of recent work has been lavished on strengthening defenses against such deceptive techniques to help protect between the worlds and the world itself.

FAQs

1. What has South Korea done to North Korean hackers? 

The move led South Korea to place 15 people and an entity involved in stealing cryptocurrency and other illicit cyber activity, trying to halt their operations and funding streams.

2. How much did North Korean hackers steal in cryptocurrency in 2024? 

North Korean hackers stole 1.34 billion dollars across 47 incidents, comprising 61 percent of global thefts of cryptocurrency this year, Chainalysis said.

3. What Are North Korean IT Workers Doing Abroad? 

More recently, North Korean information technology workers have been scourging companies across the world, operating undercover, getting hired on as employees launching cyberattacks and stealing cryptocurrencies to finance their state.

4. How is North Korea funding its activities through cryptocurrency theft? 

Stolen digital assets finance North Korea’s military programs, weapons development, etc., while also calming the regime through money laundering and clandestine financial pipelines.

Advertising

For advertising inquiries, please email . [email protected] or Telegram

Coinbase Tells Congress: 6 Must-Haves to Fix Crypto Regulation

Whale Sales Trigger a 22% Drop in Shiba Inu (SHIB) Price

Ethereum Price Target: Analyst Predicts a Surge to $5,300

Queens Bitcoin Heist: Seven Charged in $300,000 Crypto Theft Case

Shilling Meme Coins: How Influencers Are in the Crosshairs of the Law

TAGGED:Bureau 313cryptocurrency theftillicit cyber activitiesNorth Korean hackers

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article image 269 Were You Left Out of the Goatseus Maximus Buzz? Don’t Miss BTFD Coin’s Incredible Offer!
Next Article Is Hong Kong the Next Global Crypto Hub? A Look at the Stablecoin Bill Is Hong Kong the Next Global Crypto Hub? A Look at the Stablecoin Bill
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
FacebookLike
XFollow
YoutubeSubscribe
TelegramFollow
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad image
Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
  • Sitemap
© DT News. All Rights Reserved.
Banner 1
Banner 2
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English