news 
US, Japan, and South Korea warn blockchain industry of North Korea’s ongoing cyber threats
In a joint warning, the governments of the United States, Japan, and South Korea have issued a stern alert to the global blockchain industry regarding the persistent threat of cyberattacks from North Korean actors. The warning highlights the increasing sophistication and danger posed by these attacks, which target exchanges, custodians, and individual users.
According to reports, North Korean-linked groups, including the notorious Lazarus Group, have stolen a staggering $650 million in 2024 alone. These attacks are not isolated incidents but rather part of a broader campaign aimed at funding North Korea’s weapons programs. The governments emphasize that the threat is real and demands urgent attention from industry stakeholders.
The US and South Korea have specifically attributed major breaches to North Korean cyber actors, including the $308 million heist on DMM Bitcoin, $50 million loss at Upbit, and $16.1 million theft from Rain Management. Similarly, the 2023 attacks on WazirX ($235 million) and Radiant Capital ($50 million) were also linked to these malicious actors.
The attacks employ a range of tactics, including social engineering and malware such as TraderTraitor and AppleJeus. These tactics are designed to compromise security measures and exploit vulnerabilities in the blockchain ecosystem. As a result, the governments urge industry players to be vigilant and strengthen their defenses against these threats.
Furthermore, the joint statement emphasizes the importance of cooperation between public and private sectors to combat these malicious actors effectively. The US has established the Illicit Virtual Asset Notification (IVAN) system, while the Cryptoasset and Blockchain Information Sharing and Analysis Center (Crypto-ISAC) facilitates information sharing and collaboration among stakeholders. Japan’s Financial Services Agency is also calling for self-inspections by businesses to reduce risks.
The governments of the US, Japan, and South Korea have decided to take a stronger stance against North Korean cyber actors by strengthening sanctions and enhancing cybersecurity across the Indo-Pacific region through trilateral working groups.
Source: cryptobriefing.com
