South Korea, the United States, and Japan have issued a joint statement highlighting North Korean hackers suspected of involvement in large-scale cryptocurrency theft, with estimates suggesting that the regime seized around $660 million in digital assets in 2024.
The thefts include significant amounts from prominent exchanges: $308 million from DMM Bitcoin, $50 million from Upbit, $16.13 million from Rain Management, $235 million from WazirX, and $50 million from Radiant Capital.
The three nations have called for enhanced cooperation between the public and private sectors, especially in industries related to blockchain and virtual assets, to mitigate the risk of inadvertently employing North Korean IT personnel.
The collaboration is critical in response to ongoing cyber threats, as North Korean hackers have been linked to numerous cyberattacks since 2022. Government agencies from the U.S., South Korea, and Japan have regularly warned of these risks, which could affect the security of global financial systems.
The joint statement underscores the geopolitical significance of North Korea's actions. It is believed that the funds seized through cybercrime are being used to support the country’s illegal arms trade and the development of weapons of mass destruction (WMDs).