Trump Administration Goes After North Korean Bitcoin Hackers –
The U.S. Treasury has introduced sanctions concentrating on North Korean cybercrime syndicates answerable for over $2 billion in bitcoin alternate hacks.
OFAC Sanctions North Korean Bitcoin Hacking Syndicate
The U.S. Division of the Treasury introduced the information in a press statement issued on Friday (September 13, 2019).
In keeping with the press launch, the division’s Workplace of Overseas Property Management (OFAC) goes after three North Korean-sponsored hacking syndicates — Lazarus Group, Bluenoroff, and Andariel.
The latter two are considered sub-divisions of the Lazarus Group. Commenting on the choice to levy sanctions, Treasury Underneath Secretary for Terrorism and Monetary, Sigal Mandelker, mentioned:
Treasury is taking motion in opposition to North Korean hacking teams which have been perpetrating cyber assaults to assist illicit weapon and missile packages. We are going to proceed to implement current U.S. and UN sanctions in opposition to North Korea and work with the worldwide group to enhance cybersecurity of monetary networks.
Other than the 2014 Sony hack and the WannaCry ransomware assault, these state-sponsored cybercrime teams have been implicated in quite a few Bitcoin alternate hacks.
As beforehand reported by Bitcoinist, these assaults have resulted within the theft of greater than $2 billion in bitcoin and different cryptocurrencies.
Many of those hacks goal exchanges in South Korea and Japan. Nevertheless, intelligence studies say platforms throughout Southeast Asia are additionally vulnerable.
These hacking syndicates additionally goal different areas of the worldwide finance infrastructure such because the SWIFT community and ATMs. Stories point out the teams have seen success in assaults on banks in nations like Vietnam, Bangladesh, and the Philippines amongst others.
Pyongyang Claims Innocence
Again in August 2019, authorities in Pyongyang denied studies that the federal government was sponsoring these cybercrime syndicates.
Each U.S. and United Nations cybersecurity experts have up to now linked the nation’s authorities to those cybercrime syndicates.
These studies additionally say that Pyongyang is funneling the proceeds of those bitcoin alternate hacks into the development of its nuclear weapons program.
In keeping with a spokesperson for the North Korean authorities, the allegations are a part of a global conspiracy by the West to tarnish the nation’s picture.
For safety equipment within the U.S., the aim is to stop North Korea from creating weapons of mass destruction. Thus, the Trump administration plans to confiscate any belongings owned by the sanctioned entities in america.
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