North Korean hackers stole $659 million in cryptocurrency through several hacks last year, according to a joint statement from South Korea, the United States, and Japan on Tuesday. The stolen money is believed to fund North Korea’s illegal weapons programs.
This is the first time the three nations will openly point fingers at North Korea over a massive crypto heist. Some of the targets were India’s WazirX exchange, which lost $235 million, and Radiant Capital, which was hacked for $50 million.
A further $374.13 million was allegedly siphoned off from DMM Bitcoin, Upbit and Rain Management in an attack reported in an industry report. The statement identifies North Korean hacking groups, including the Lazarus Group, as the ones behind the thefts.
These groups carried out careful and hidden cyberattacks, often using malware. “The DPRK’s cyber program is a serious danger to the safety and stability of the international financial system,” the statement warned.
The statement also warns blockchain companies and crypto exchanges about the ongoing risks. It urged businesses to strengthen their defenses and avoid unknowingly hiring North Korean IT workers. “Our three governments work together to prevent thefts, including from private industry, by the DPRK and to recover stolen funds,” the nations added.
North Korea has a history of using cybercrime to fund its weapons and missile programs. Groups like Lazarus have been linked to major thefts in the past, that target banks and crypto exchanges around the world.
The three nations said they will continue to work together in the fight against North Korea’s increasing cyber threats. They also discuss the need for the recovery of stolen money and the stoppage of the sources of money used in making weapons.
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