South Korea seeks recommendation from crypto companies to combat North Korean crime

  • South Korean authorities are searching for recommendation from cryptocurrency companies to fight North Korean cryptocurrency crimes.
  • South Korean authorities representatives held talks with US cryptocurrency firms.
  • South Korean media just lately reported that North Korea stole $700 million value of cryptocurrency in 2022.

South Korean officers have reportedly held conferences with US cryptocurrency and cybersecurity companies over issues over North Korea’s unlawful actions. The stolen cryptocurrency is reportedly utilized by Kim Jong-un’s regime to fund North Korea’s nuclear missile program and different weapons applications.

South Korea’s particular envoy for peace and safety on the Korean Peninsula, Kim Gunn, met with Virginia-based cybersecurity agency Mandiant to debate methods to stop North Korean hackers from stealing crypto property from people and companies, Nikkei Asia reported. Gunn occurs to be a high-ranking determine in South Korea on points associated to the hostile North.

Kim Gang additionally met with executives from South Korean cryptocurrency intelligence agency Chainalysis to debate cyber ways employed by North Korea to steal crypto property. South Korea’s international ministry publicly highlighted these conferences, noting that North Korea’s actions are inflicting financial hurt to people and companies whereas posing a risk to the world’s data know-how system.

The theft of cryptocurrencies by North Korea has been recognized as one of the vital severe challenges for South Korean intelligence businesses. Efforts to fight North Korea’s unlawful actions have introduced collectively officers from South Korea’s Ministry of Finance, Ministry of Overseas Affairs and spy businesses. Officers have additionally tapped huge tech firms resembling Google and EST Safety to assist with these efforts.

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South Korea’s Yonhap Information just lately reported that North Korea stole $700 million value of crypto property in 2022. In accordance with South Korean intelligence, the stolen cryptocurrency is sufficient to launch 30 intercontinental ballistic missiles. “We’re in talks with worldwide companions to dam the circulation of cash into North Korea’s nuclear missile program. Motion on this might be stepped up,” mentioned a South Korean diplomat.


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