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Circle USYC (USYC) $ 1.10

40 Nations Join US and South Korea in Combating North Korean Crypto Crimes

By admin On Aug 29, 2024

The U.S. Department of State and the Republic of Korea’s Ministry of Foreign Affairs co-hosted a symposium in New York City on Tuesday, focusing on protecting the virtual asset industry from exploitation by North Korea (DPRK) and disrupting its revenue generation. The event aimed to curb DPRK’s efforts to fund its weapons of mass destruction (WMD) and ballistic missile programs through illicit means, including the theft of cryptocurrency. Between 2017 and 2023, DPRK cyber actors reportedly stole around $3 billion in virtual assets. Participants from over 40 countries, including government officials and private sector experts, discussed strategies to enhance global collaboration and information sharing to counter these activities. The symposium covered current trends in DPRK cyber threats, strategies for identifying and stopping thefts, and emphasized cooperation between governments and the private sector in combating virtual asset-related crimes.

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