Governments around the world have intensified their efforts to hold hackers responsible for cryptocurrency thefts, with North Korea in the spotlight.
In 2024, hackers linked to the country were Blamed for stealing more than half of the total value of cryptocurrencies worldwide..
South Korea recently demanded sanctions on 15 people and one organization connected to North Korea.
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According to a report dated December 26 advertisement by the Ministry of Foreign Affairs, these people are accused of generating funds to support North Korea’s nuclear missile program and its Munitions Industry Department. These funds were allegedly raised through “foreign currency earning activities” conducted abroad.
One of those sanctioned, Kim Cheol Min of the 313th General Office, reportedly He earned large amounts of money working for companies in the United States and Canada.. This money was then funneled into North Korea’s nuclear weapons development efforts.
Furthermore, one of the most infamous groups, the Lazarus Group has been linked to some of the biggest cyber heists in the Web3 space.. This includes the breach of the Ronin network worth $600 million.
As South Korea imposes its sanctions, international allies are also stepping up efforts to combat North Korea’s crypto schemes. The US Treasury and the United Arab Emirates (UAE) recently joined forces to attack networks that launder cryptocurrency for North Korea. Did they successfully take down the criminal network? Read the full story.
Having completed a master’s degree in Economics, Politics and Cultures of the East Asian region, Aaron has written scientific articles analyzing the differences between Western and collective forms of capitalism in the post-World War II era.
With almost a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that cryptocurrency enthusiasts face. He is a passionate analyst who cares about data- and fact-based content, as well as that which speaks to both Web3 natives and newcomers to the industry.
Aaron is the go-to person for all things digital currencies. With a strong passion for blockchain and Web3 education, Aaron strives to transform the space as we know it and make it more accessible for beginners.
Aaron has been quoted by several established media outlets and is a published author himself. Even during his free time, he likes to research market trends and look for the next supernova.
