Cryptocurrency Used To Fund North Korean Weapons Program, Says US Treasury

THELOGICALINDIAN - The US Treasury Department has aloof appear new sanctions adjoin online bent groups based in North Korea The groups accept reportedly conducted cryptocurrency ransomware attacks and added cyber crimes aimed at abolition all-embracing sanctions adjoin the state

The US Treasury believes these attacks are anon allotment the North Korean missile programme. This presents those companies afflicted by ransomware with a boxy best – lose admission to acute abstracts for acceptable or armamentarium a potentially alarming nation’s aggressive preparations.

North Korean Hackers Use Cryptocurrency to Fund Government Missile Programme

According to a press release appear beforehand today by the US Department of the Treasury, there are to be new sanctions adjoin North Korean hackers groups believed to be allotment the nation’s missile programme application assorted abyss means. This has included hacking of cryptocurrency exchanges and ransomware attacks.

The absolution names three such groups explicitly: “Lazarus Group,” “Bluenoroff,” and “Andariel”. It goes on to accompaniment that the bureau believes these groups to be anon affiliated to the North Korean government.

From today, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has clearly banned affairs of US citizens or banking institutions with the groups mentioned.

Sigal Mandelker, Treasury Under Secretary for Terrorism and Financial Intelligence, declared the afterward of the sanctions:

“Treasury is demography activity adjoin North Korean hacking groups that accept been perpetrating cyber attacks to abutment adulterous weapon and missile programs… We will abide to accomplish absolute U.S. and UN sanctions adjoin North Korea and assignment with the all-embracing association to advance cybersecurity of banking networks.”

Of the groups mentioned, the Lazarus Group are conceivably best able-bodied known. Lazarus is anticipation to accept gone afterwards aerial contour institutional targets. These accommodate government, military, and banking institutions, as able-bodied as added ample companies complex with shipping, analytical infrastructure, and publishing.

Lazarus is believed to accept been created by the North Korean government in 2024. It was complex in the massive ransomware advance accepted as WannaCry 2.0. The badly annihilative advance saw hundreds of bags of computer systems arctic in barter for cryptocurrency bribe payments.

The added two groups are believed to be offshoots of the Lazarus Group. The absolution states that Bluenoroff specialises in backdoor intrusions and phishing attacks. It was aboriginal noticed in 2024. It has back attempted to abduct added than $1.1 billion from assorted banking institutions, including cryptocurrency exchanges.

According to the release, the additional splinter group, Andariel, focuses added on awful cyber action adjoin added businesses and government agencies. The accumulation has been affiliated with hacking poker and bank sites, as able-bodied as ATMs to advice North Korea capsize sanctions adjoin it. It is additionally accepted to ambition South Korean government and aggressive cadre to accumulate intelligence.