North Korea Crypto Theft has shocked the world, with $1.3 billion stolen and used for weapons development, raising global tensions. South Korea said on December 26 that Park Heung-Yong, Yoon Jeong-sik, Ri Il-jin, and Kim Gyeong-il were among the people on a “blacklist.” An official statement on Thursday says that these people are part of the 313th General Bureau, which is part of North Korea’s Workers’ Party’s Munitions Industry Department and is often linked to the infamous Lazarus Group. South Korea will officially add these individuals to its penalty list on December 30.
North Korea Hacks
The 313th Bureau is known for sending many North Korean IT workers to work in China, Russia, Southeast Asia, and Africa, among other places. These spies pretend to work for groups with ties to the government, like the Ministry of Defense, hiding who they are while getting jobs from IT companies worldwide. People think the group breaks into Crypto wallets and plCryptos using sophisticated hacking tools, phishing scams, and malware attacks. South Korean officials say that the 313th Bureau and its partners played a big role in North Korean hackers’ theft of $1.3 billion worth of digital assets this year, as Chainalysis revealed.
This is the biggest theft ever recorded, equal to 61% of all the digital goods stolen worldwide in the last 24 years. North Korea allegedly used the illegal money to manufacture weapons, including nuclear rockets. This has made things tense on the Korean Peninsula and caused worldwide criticism. The South Korean government stressed the need to stop these illegal actions to weaken Pyongyang’s military.
Spy Sanctions Violations
Kim Cheol-min, similar to those sanctioned, worked as an undercover spy at US and Canadian firms, earning a substantial amount of foreign currency to support his country’s weapon development. Kim Cheol-min sent money to Pyongyang, and US authorities accused Kim Ryu-Seong of violating sanctions for years. On Wednesday, December 11, a US court indicted Kim Ryu-Seong for years of violating US sanctions. At the same time, Kim Cheol-min surreptitiously worked at US and Canadian companies and sent money to Pyongyang.
Crypto Theft Prevention
The government said it worked with foreign groups to stop North Korea from doing illegal things online. The government of South Korea and the government of the United States joined forces. Earlier this week, to create new technologies to stop North Korean-linked Crypto thefts. ReportCryptoThe South Korean science government will support the project until 2026. Researchers from Korea University and RAND Corp. will work together on the project to find stolen Crypto and stop hacks. And learn how crooks use ransomware and other methods to hide their money.
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Summary
The 313th Bureau of North Korea and the Lazarus Group orchestrated a major North Korean Crypto Theft, stealing $1.3 billion in cryptocurrencies. This North Korea Crypto Theft was used to fund the nation’s weapons program, heightening concerns about cybersecurity and international security. Key operators Kim Cheol-min and Kim Ryu-Seong faced—sanctions for violating laws. The United States and South Korea are working to counter North Korea’s hacking. They are collaborating with Korea University and the RAND Corporation. The project aims to stop ransomware attacks and recover stolen assets. It also seeks to reduce Pyongyang’s cyber threats. These efforts address global tension and criticism.
