- The investigative workforce labored onerous to cease North Korea from laundering Concord’s stolen funds.
- in 2022 In June, North Korea’s Lazarus Group stole $100 million from Concord in a malicious assault.
- Hackers attacked the corporate to launder funds to spice up North Korea’s illicit missile program.
Based on current studies, the investigative workforce behind the theft of California-based cryptocurrency agency Concord has been relentless in its efforts to stop North Korea’s authoritarian regime from misappropriating billions of {dollars} to gas its illicit actions.
Earlier in 2022 in June, Concord discovered that just about $100 million had been stolen from the corporate in a “malicious assault.” Later, in 2023 In January, it was revealed {that a} North Korean hacking workforce that helps dictator Kim Jung-Un, generally known as the Lazarus Group, was accountable for the theft.
Following this revelation, a bunch of Korean spies and US non-public investigators met at South Korea’s intelligence service to debate plans and take the initiative to restrict the cash laundering by hackers that may ultimately be used for the nation’s unlawful missile program.
Though some efforts by authorities officers within the South Korean metropolis of Pangyo resulted in futility, and a lot of the stolen quantity remained untouched by the authorities, they lastly managed to freeze greater than 1 million in late January.
Notably, the official mentioned that since North Koreans want cash, “they’ll proceed to be artistic,” including:
I do not suppose (they) will ever cease in search of unlawful methods to lift funds as a result of it is an authoritarian regime with heavy sanctions.
Importantly, hacking North Korea’s cryptocurrencies has been a key focus to strengthen Kim Jung-Un’s autocratic rule. In a joint assertion, diplomats from the US, Japan and South Korea lamented that North Korea continues to “put its restricted sources into its WMD (weapons of mass destruction) and ballistic missile applications.”
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