The US Department of the Treasury sanctioned four entities and one individual for their role in cyber operations conducted by North Korea.The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against four entities and one individual for their role in malicious cyber operations conducted to support the government of North Korea.
“The DPRK conducts malicious cyber activities and deploys information technology (IT) workers who fraudulently obtain employment to generate revenue, including in virtual currency, to support the Kim regime and its priorities, such as its unlawful weapons of mass destruction and ballistic missile programs.” reads the announcement. [https://archive.ph/I2My9]The sanctioned entities conducted operations to steal funds to support the military strategy of the regime.
In December 2022, South Korea’s spy agency, the National Intelligence Service, estimated [
https://archive.ph/FQkUB] that North Korea-linked threat actors have stolen an estimated 1.5 trillion won ($1.2 billion) in cryptocurrency and other virtual assets in the past five years.
According to the spy agency, more than half the crypto assets (about 800 billion won ($626 million)) have been stolen this year alone, reported the Associated Press.
The NIS added that more than 100 billion won ($78 million) of the total stolen funds came from South Korea.
Cyber security and intelligence experts believe that attacks aimed at the cryptocurrency industry will continue to increase next year. National Intelligence Service experts believe that North Korea-linked APT groups will focus on the theft of South Korean technologies and confidential information on South Korean foreign policy and national security.
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