The U.S., Japan, and South Korea have issued a joint warning against cryptocurrency thefts linked to the Democratic People’s Republic of Korea (DPRK). This coordinated announcement highlights the significant risks posed by DPRK’s cyber operations to global financial systems.

Efforts to disrupt these activities aim to prevent stolen funds from being funneled into the regime’s weapons and missile programs. The statement notes:

The advanced persistent threat groups affiliated with the DPRK, including the Lazarus Group, which was designated by the relevant authorities of our three countries, continue to demonstrate a pattern of malicious behavior in cyberspace by conducting numerous cybercrime campaigns to steal cryptocurrency and targeting exchanges, digital asset custodians, and individual users.

The Lazarus Group and other DPRK-backed entities are responsible for numerous high-profile thefts, including $308 million from DMM Bitcoin, $50 million from Upbit, and $16.13 million from Rain Management in 2024, the statement details. Cyber tactics such as malware deployment via social engineering campaigns have enabled additional thefts of $235 million from Wazirx and $50 million from Radiant Capital, it adds.

Acknowledging these threats, the statement emphasizes:

Deeper collaboration among the public and private sectors of the three countries is essential to proactively disrupt these malicious actors’ cybercrime operations, protect private business interests, and secure the international financial system.

The trilateral efforts underscore initiatives like the U.S. Illicit Virtual Asset Notification program and Japan’s partnership with the Japan Virtual and Crypto Assets Exchange Association to enhance industry resilience. South Korea and the U.S. have also co-hosted symposiums to strengthen collaboration between public and private stakeholders. The statement concludes: “The United States, Japan, and the Republic of Korea will continue to work together to counter the DPRK’s malicious cyber activities and illicit revenue generation, including by imposing sanctions on DPRK cyber actors and collaborating to improve cybersecurity capacity across the Indo-Pacific region.”

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