South Korean government sanctions North Korea for cybercrime ── Restrict transactions with target wallet addresses | coindesk JAPAN | Coindesk Japan

The South Korean government has blacklisted four North Korean individuals and seven organizations alleged to have funded “nuclear and missile development” for illegal cyber activities, including theft of crypto assets. .

“This is the first unilateral sanctions by the South Korean government against North Korea in the cyber field,” the South Korean Ministry of Foreign Affairs said in a statement on February 10. “By including cryptocurrency wallet addresses as identification information subject to sanctions, it is expected to serve as an opportunity to warn the world of the dangers of cryptocurrency transactions with North Korea.”

North Korea’s cryptocurrency theft hit a record high in 2022. In addition, the US Federal Bureau of Investigation (FBI) announced in January that two North Korean hacker groups planned to steal $100 million (about 13 billion yen) of crypto assets from the Harmony blockchain bridge service. ing. A US blacklisted Ethereum wallet linked to the North Korean hacker group Lazarus was also involved in the $600 million hack last March.

South Korea’s sanctions target individuals suspected of having ties to Lazarus, including Park Jin-hyeok of Chosun Expo Joint Venture, a company allegedly behind Lazarus. . The seven groups carry out cyberattacks “including hacking and cryptocurrency theft” and train experts, the statement said.

Under the regulations, trading crypto assets with blacklisted entities is prohibited without prior approval from the South Korean Financial Services Commission. Cryptocurrency trading is also included in South Korea’s ban on terrorist financing.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜ Original: South Korea Blacklists North Korean Crypto Thieves, Flags Wallet Addresses