Sanctioned individuals allegedly fund North Korea’s nuclear weapons program through cyber theft and crypto-related crimes.
Sanctions Target Crypto Hackers
South Korea has sanctioned 15 North Korean IT operatives and one organization linked to cryptocurrency heists and cyber theft. These individuals allegedly channel funds to North Korea’s nuclear weapons development program.
Infamous Hackers Under Scrutiny
The Lazarus Group, suspected of major crypto thefts, including the $600 million Ronin network hack, is a primary focus. Global governments hold North Korea accountable for over half of cryptocurrency theft in 2024.
Key Individuals Highlighted
The Ministry of Foreign Affairs identified Kim Cheol-min of the 313th General Bureau as earning significant foreign currency by covertly working for U.S. and Canadian companies. These funds allegedly support Pyongyang’s missile development efforts.
High Revenue from Cyber Crimes
Kim Ryu Song, another sanctioned individual, reportedly generated $88 million over six years through sanctions violations, money laundering, and identity theft, as reported by South Korean media.
Record Crypto Theft in 2024
North Korean hackers stole $1.34 billion in 2024, a 102% increase from 2023. Chainalysis data shows these hacks comprised over 61% of the total stolen cryptocurrency value globally, marking them as a significant threat.
Sophisticated Hacking Methods
Though fewer attacks occurred in 2024, their profitability increased, with most yielding between $50 million and $100 million. The DPRK has improved its tactics, enabling larger exploits.
The Road Ahead
The continued evolution of North Korean cyber operations presents a growing challenge for global cybersecurity. Experts warn of escalating threats in 2025.
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