South Korea, the United States, and Japan have announced their intention to strengthen cooperation against North Korean cyberattacks threatening the international financial system. This was detailed in a joint statement released on January 14, in which the countries condemned Pyongyang’s actions, labeling its programs a significant threat to global stability.
According to the statement, North Korea orchestrated the theft of $6.6 billion in cryptocurrencies in 2024, including attacks on the DMM Bitcoin, Upbit, and Rain Management exchanges. In addition, South Korea and the US separately attributed hacks on WazirX and Radiant Capital to North Korea.
A Unique Joint Approach
For the first time, the three countries have presented a unified statement summarizing their collective investigation findings. Previously, such allegations were voiced only at the level of individual governments. The document specifically mentions the Lazarus hacker group, which is reportedly tied to the North Korean regime and is responsible for a series of attacks on crypto exchanges, wallets, and individual users.
North Korean Cyberattacks: Methods and Scale
One of the largest attacks was the theft of $308 million from Japan’s DMM Bitcoin exchange in May 2024. A joint investigation by the FBI, Japanese police, and American cyber centers determined that a group known as TraderTraitor, allegedly linked to North Korea, was behind the incident.
“North Korean hackers use programs such as TraderTraitor and AppleJeus to conduct targeted attacks on cryptocurrency companies by inserting malware and disguising their activities as legitimate,” the statement says.
Measures and Next Steps
Seoul, Washington, and Tokyo emphasize that their ultimate goal is to cut off North Korea’s access to illicit funds, which are used to finance weapons of mass destruction programs and ballistic missiles. To that end, the nations plan to work closely with the private sector to prevent attacks and recover stolen funds.
They also announced plans to expand sanctions against North Korean hackers and bolster cybersecurity in the Indo-Pacific region.
Previously: Hyperliquid Funds Outflow Hits $256M Amid Rumors of Lazarus Group Threat
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.