{"id":34069,"date":"2024-12-26T20:00:06","date_gmt":"2024-12-26T17:00:06","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=34069"},"modified":"2024-12-26T19:45:46","modified_gmt":"2024-12-26T16:45:46","slug":"south-korea-sanctions-15-north-koreans-for-theft","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/south-korea-sanctions-15-north-koreans-for-theft\/","title":{"rendered":"South Korea Sanctions 15 North Koreans for Theft"},"content":{"rendered":"<p><a href=\"https:\/\/coinengineer.net\/blog\/over-30-of-south-koreans-are-crypto-investors\/\"><strong>South Korea<\/strong><\/a> Sanctions <strong>15 North Koreans<\/strong> for <strong>Crypto Theft<\/strong> and<strong> Cyber Crimes. <\/strong>South Korea has imposed sanctions on 15 North Koreans due to crypto theft and cybercrime offenses.<\/p>\n<p>The sanctioned agents are alleged to have generated funds for <strong>North Korea&#8217;s nuclear weapons development program<\/strong>.<\/p>\n<p><strong>North Korean hackers<\/strong> are among the most sought-after individuals by governments worldwide, being linked to more than half of the cryptocurrency value stolen in 2024.<\/p>\n<p>Notorious hackers like the <strong>Lazarus Group<\/strong> are prime suspects in some of the most infamous cyber thefts in Web3, including the $600 million <strong>Ronin network hack<\/strong>.<\/p>\n<p><strong>South Korea<\/strong> has become the latest country to impose sanctions against 15 members of <strong>North Korean IT organizations<\/strong> and one associated entity.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/south-korea-sanctions-15-north-koreans-for-theft\/#Nuclear_Program_Connection\" title=\"Nuclear Program Connection\">Nuclear Program Connection<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/south-korea-sanctions-15-north-koreans-for-theft\/#North_Korean_Hackers_Stole_13_Billion_Worth_of_Crypto_in_2024_Chainalysis\" title=\"North Korean Hackers Stole $1.3 Billion Worth of Crypto in 2024: Chainalysis\">North Korean Hackers Stole $1.3 Billion Worth of Crypto in 2024: Chainalysis<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Nuclear_Program_Connection\"><\/span>Nuclear Program Connection<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to a December 26 press release from <strong>South Korea&#8217;s Ministry of Foreign Affairs<\/strong>, the sanctioned agents are accused of procuring funds for North Korea&#8217;s nuclear missile development program and the DPRK&#8217;s Munitions Industry Department through &#8220;overseas foreign currency-earning activities.&#8221;<\/p>\n<p><strong>Kim Cheol-min<\/strong> from the <strong>313th General Bureau<\/strong> is among those sanctioned, with allegations that he earned &#8220;a large amount of foreign currency&#8221; by working undercover for U.S. and Canadian companies before funneling the funds to Pyongyang&#8217;s nuclear weapons program.<\/p>\n<p>Another sanctioned individual, <strong>Kim Ryu Song<\/strong>, was indicted by U.S. lawmakers on December 11 for violating sanctions, money laundering, and identity theft, reportedly generating more than $88 million in revenue over six years, according to South Korean media reports.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34070 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/cyvers.webp\" alt=\"cyvers\" width=\"1380\" height=\"848\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/cyvers.webp 1380w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/cyvers-300x184.webp 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/cyvers-1024x629.webp 1024w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/cyvers-768x472.webp 768w\" sizes=\"auto, (max-width: 1380px) 100vw, 1380px\" \/><\/p>\n<p style=\"text-align: center;\"><em><strong>Total Annual Funds Loss<\/strong><\/em><\/p>\n<p>The sanctions came after another big year for <strong>crypto hackers<\/strong>, who stole $2.3 billion worth of crypto in 2024, a 40% increase over the value stolen in 2023.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"North_Korean_Hackers_Stole_13_Billion_Worth_of_Crypto_in_2024_Chainalysis\"><\/span>North Korean Hackers Stole $1.3 Billion Worth of Crypto in 2024: Chainalysis<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>North Korean-affiliated hackers<\/strong> have become a major threat to the security of the crypto world.<\/p>\n<p>According to Chainalysis data, in 2024, North Korean hackers stole $1.34 billion worth of digital assets across 47 different incidents, marking a 102% increase compared to the $660 million stolen in 2023.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34071 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/dprk.webp\" alt=\"dprk\" width=\"1300\" height=\"760\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/dprk.webp 1300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/dprk-300x175.webp 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/dprk-1024x599.webp 1024w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/dprk-768x449.webp 768w\" sizes=\"auto, (max-width: 1300px) 100vw, 1300px\" \/><\/p>\n<p style=\"text-align: center;\"><strong><em>DPRK (North Korea) Hacking Activities<\/em><\/strong><\/p>\n<p>$1.34 billion represents more than 61% of the total cryptocurrency value stolen during 2024 and more than 20% of the total hacking incidents. According to <strong>Chainalysis<\/strong>, a worrying sign for 2025 is that the frequency of attacks by North Korean agents is increasing.<\/p>\n<blockquote><p>&#8220;Notably, attacks between $50 million and $100 million, and those above $100 million, occurred far more frequently in 2024 than in 2023, suggesting that the DPRK is getting better and faster at executing large-scale exploits.&#8221;<\/p><\/blockquote>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34072 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/dprkk.webp\" alt=\"dprkk\" width=\"1424\" height=\"866\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/dprkk.webp 1424w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/dprkk-300x182.webp 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/dprkk-1024x623.webp 1024w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/dprkk-768x467.webp 768w\" sizes=\"auto, (max-width: 1424px) 100vw, 1424px\" \/><\/p>\n<p>In contrast, most <strong>North Korean<\/strong> hacks only netted attackers an average of $50 million worth of stolen funds, indicating that the scale of the attacks is growing.<\/p>\n<hr \/>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korea Sanctions 15 North Koreans for Crypto Theft and Cyber Crimes. South Korea has imposed sanctions on 15 North Koreans due to crypto theft and cybercrime offenses. The sanctioned agents are alleged to have generated funds for North Korea&#8217;s nuclear weapons development program. North Korean hackers are among the most sought-after individuals by governments<\/p>\n","protected":false},"author":29,"featured_media":34077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[10500,1758,10502,10499,10501,5913,9623,10494,10495,10497,10496,1999,10498],"class_list":["post-34069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-313th-general-bureau","tag-chainalysis","tag-crypto-hackers","tag-kim-cheol-min","tag-kim-ryu-song","tag-lazarus-group","tag-north-korea","tag-north-koreas-nuclear-weapons-development-program","tag-north-korean-hackers","tag-north-korean-it-organizations","tag-ronin-network-hack","tag-south-korea","tag-south-koreas-ministry-of-foreign-affairs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korea Sanctions 15 North Koreans for Theft - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/south-korea-sanctions-15-north-koreans-for-theft\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea Sanctions 15 North Koreans for Theft - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"South Korea Sanctions 15 North Koreans for Crypto Theft and Cyber Crimes. 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