{"id":617799,"date":"2023-03-14T10:03:16","date_gmt":"2023-03-14T15:03:16","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/14\/seoul-sanctions-may-be-ineffective-against-north-koreas-crypto-hacks\/"},"modified":"2023-03-14T10:03:16","modified_gmt":"2023-03-14T15:03:16","slug":"seoul-sanctions-may-be-ineffective-against-north-koreas-crypto-hacks","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/14\/seoul-sanctions-may-be-ineffective-against-north-koreas-crypto-hacks\/","title":{"rendered":"Seoul: Sanctions May Be Ineffective Against North Korea\u2019s Crypto Hacks"},"content":{"rendered":"
\n

Seoul: Sanctions May Be Ineffective Against North Korea\u2019s Crypto Hacks<\/h2>\n
\"A
Source: Alexlmx\/Adobe<\/figcaption><\/figure>\n

North Korea<\/a>\u2019s crypto hacking campaign may be impervious to international sanctions, a South Korean government official has claimed.<\/p>\n

According to the media outlet Yonhap TV News<\/a>, an unnamed Seoul-based government official stated:<\/p>\n

\n

\u201cThe scale of North Korea\u2019s cybercrime-related activities suggests that the international community\u2019s sanctions against North Korea are being rendered powerless.\u201d<\/p>\n<\/blockquote>\n

South Korean government sources were quoted as stating that \u201cillegal\u201d North Korean \u201cforeign currency earnings\u201d last year amounted to $2.3 billion.<\/p>\n

At least $700 million of that figure came from large-scale crypto raids, Seoul said, with more crypto \u201cstolen\u201d from \u201chacking\u201d attacks and phishing on smaller domestic targets.<\/p>\n

The FBI has previously accused North Korea of orchestrating the Ronin Bridge attack.<\/a> The agency has placed sanctions on Ethereum (ETH)<\/a> wallets it thinks are linked to the bridge\u2019s suspected hackers.<\/p>\n

Seoul also believes Pyongyang has made money from \u201cillegal exports.\u201d<\/p>\n

According to South Korean government officials, the scale of North Korea\u2019s \u201cforeign currency imports is the highest since 2018\u201d \u2013 the year when \u201ceconomic sanctions against North Korea were launched in earnest,\u201d the media outlet explained.<\/p>\n

Sanctions Not Slowing North Korea\u2019s Crypto Hacks, Says Seoul<\/h2>\n

Security providers earlier this year predicted a coming \u201csurge\u201d in North Korean<\/a> crypto hacks. And last month, the crypto exchanges Binance and Huobi said they had frozen \u201cNorth Korea-linked\u201d wallets containing \u201capproximately $1.4 million in cryptoassets.\u201d<\/p>\n

Security providers and United States government agencies have claimed that North Korean hacking groups such as Lazarus make use of coin-mixing services to anonymize crypto transactions and \u201claunder\u201d crypto.<\/p>\n

They claim that while some such mixers have been shut down, others are being rebooted or repackaged.<\/a> They think this is being done in a bid to allow criminals to convert their crypto to fiat.<\/p>\n

Pyongyang has repeatedly denied that it authorizes crypto hacking. North Korea has accused both Washington and Seoul of fabricating reports about its crypto-related activities.<\/p>\n<\/p><\/div>\n

Read More<\/a>
\n Stephania Michaud<\/p>\n","protected":false},"excerpt":{"rendered":"

Seoul: Sanctions May Be Ineffective Against North Korea\u2019s Crypto Hacks Source: Alexlmx\/AdobeNorth Korea\u2019s crypto hacking campaign may be impervious to international sanctions, a South Korean government official has claimed.According to the media outlet Yonhap TV News, an unnamed Seoul-based government official stated:\u201cThe scale of North Korea\u2019s cybercrime-related activities suggests that the international community\u2019s sanctions against<\/p>\n","protected":false},"author":1,"featured_media":617800,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,31963],"tags":[],"class_list":{"0":"post-617799","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sanctions","8":"category-seoul"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/617799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=617799"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/617799\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/617800"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=617799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=617799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=617799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}