A joint statement released on Tuesday by South Korea, the United States, and Japan revealed that North Korean hackers stole a staggering $659 million in cryptocurrency through multiple cyberattacks in the past year. The funds are believed to have been funneled into supporting North Korea’s illicit weapons programs.
This marks the first time the three nations have openly accused North Korea of orchestrating such extensive crypto thefts. Among the targeted entities were India’s WazirX exchange, which lost $235 million, and Radiant Capital, which was compromised for $50 million. Additionally, an attack involving DMM Bitcoin, Upbit, and Rain Management resulted in the siphoning of $374.13 million, according to industry reports.
The statement identified several North Korean hacking groups, including the notorious Lazarus Group, as being responsible for the thefts. These groups executed highly sophisticated and covert cyberattacks, often deploying malware to infiltrate their targets. “The DPRK’s cyber program poses a significant threat to the safety and stability of the international financial system,” the statement noted.
The joint statement also issued a warning to blockchain companies and cryptocurrency exchanges, urging them to bolster their cybersecurity measures and be vigilant about the risks of unknowingly employing North Korean IT workers. The governments emphasized their ongoing collaboration to prevent further thefts, including from private industries, and to recover stolen funds.
North Korea has long been suspected of using cybercrime to finance its nuclear and missile development programs. Previous attacks by groups like Lazarus have targeted financial institutions and crypto exchanges globally.
The three nations affirmed their commitment to continuing their joint efforts to combat North Korea’s growing cyber threats. They also stressed the importance of recovering stolen assets and cutting off the financial resources that fuel the regime’s weapons programs.
