South Korea sanctions 15 North Koreans for crypto heists and cyber theft
Summary
North Korean hackers, particularly the Lazarus Group, are linked to over half of the cryptocurrency thefts in 2024, amounting to $1.34 billion across 47 incidents. This represents a 102% increase from the $660 million stolen in 2023 and accounts for over 61% of total crypto thefts that year. South Korea has sanctioned 15 North Korean IT organization members for allegedly funding the country's nuclear missile program through cyber theft. Notable individuals include Kim Cheol-min, who earned significant foreign currency through undercover work, and Kim Ryu Song, indicted for money laundering and identity theft. The overall value stolen in 2024 reached $2.3 billion, a 40% increase from 2023, with larger-scale attacks becoming more frequent.
