North Korean Hackers Sanctioned by South Korea Over $1.3B Crypto Heist

On December 26, South Korea blacklisted several individuals linked to North Korea's 313th General Bureau hack. This action responds to a massive $1.3 billion cryptocurrency theft orchestrated by North Korean hackers.

North Korean Cyber Activities and Crypto Theft

The 313th General Bureau sends IT personnel abroad. They pose as employees of regime-linked organizations while working globally. These operatives use advanced hacking techniques, phishing scams, and malware attacks. 

Their efforts have resulted in the theft of $1.3 billion in digital assets this year alone. This amount represents 61% of all digital assets stolen globally over the past 24 years. These funds support North Korea's weapons development programs. 

This has increased tensions on the Korean Peninsula and drawn international condemnation. South Korea's government emphasized the importance of stopping these activities to curb Pyongyang's military capabilities.

Uncovering the Undercover Agents

Among the sanctioned individuals, Kim Cheol-min stands out. He worked undercover at US and Canadian companies, earning significant foreign currency. He sent these earnings to Pyongyang. 

Kim Ryu-seong was indicted in the United States for violating US sanctions over several years. South Korea and the United States have partnered to dismantle North Korea's illegal cyber activities. This joint effort aims to prevent future crypto thefts. 

South Korea's science ministry will back this initiative until 2026. Researchers from Korea University and RAND Corp. will work together on tracking stolen crypto, preventing cyberattacks, and exploring how criminals launder illicit funds.

This collaboration underscores the seriousness of combating North Korea's cyber activities. By targeting these illegal operations, South Korea and its partners aim to reduce Pyongyang's capacity to fund its controversial programs.