US, Japan and Korea's Crypto Currency Warning: Be Careful, Your Money Can Be Stolen - Coin Bulletin

The US, Japan, and South Korea have called for public and private sector cooperation to prevent North Korea's cryptocurrency thefts, stating that they threaten international security.

The US, Japan, and South Korea issued a joint statement to emphasize the need for caution against North Korea's cryptocurrency thefts in the blockchain sector.

Three countries have announced that they are determined to prevent thefts carried out by malicious actors from North Korea and to recover stolen funds.

In a statement by the US Department of State, it was stated that the stolen funds were used to finance weapons of mass destruction and ballistic missile programs.

A significant event recently associated with North Korea was the theft of $308 million in Bitcoin from Japanese crypto firm DMM in May 2024. Following this incident, the company ceased operations in December.

The statement reported that North Korea's cyber threat groups, especially the Lazarus Group, continue to carry out various cybercrime campaigns by targeting cryptocurrency exchanges, cryptocurrency custodians, and individual users. It was noted that these groups attract attention with their malicious behaviors in the cyber world.

In the statements of the three countries, it was emphasized that a deeper collaboration between the public and private sectors is necessary to prevent such cyber crime operations, protect private sector interests, and secure the international financial system.

In December, the US added three institutions to the sanction list, which are claimed to have played a role in the laundering of cryptocurrencies stolen on behalf of North Korea.