TechFlow news, on December 26, according to The Block, the South Korean government has imposed sanctions on 15 North Korean individuals and one entity for their involvement in illegal cyber activities, including cryptocurrency theft. According to Chainalysis data, North Korean hackers stole $1.34 billion worth of cryptocurrency in 2024, accounting for 61% of the total amount stolen that year.
The sanctioned individuals are all members of Bureau 313 under North Korea's Ministry of Mechanical Industry. This department has been subject to United Nations Security Council sanctions since 2016 due to its role in weapons production, including ballistic missile programs. South Korea's Ministry of Foreign Affairs stated that North Korean IT personnel often use fake identities to travel to China, Russia, Southeast Asia, Africa, and other regions, securing work contracts from global IT companies while simultaneously engaging in information theft and cyberattacks.
