U.S Treasury Department Sanctions North Korean Hacker Groups

CRYPTOINFORMERS || SEPTEMBER 14, 2019

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The United States Treasury Department has announced further sanctions against three North Korean state-sponsored hacker groups.


U.S. Department of Treasury made the announcement on Sept. 13 stating that North Korean state sponsored hacking groups, notably the renowned Lazarus group, and two lesser-known entities, Bluenoroff and Andariel are responsible for “North Korea’s malicious cyber activity on critical infrastructure.”


Sigal Mandelker, Treasury Under Secretary for Terrorism and Financial Intelligence said:


“Treasury is taking action against North Korean hacking groups that have been perpetrating cyber attacks to support illicit weapon and missile programs. [...] We will continue to enforce existing U.S. and UN sanctions against North Korea and work with the international community to improve cybersecurity of financial networks.”


As reported in August, the United Nations claimed that North Korea had stolen around $2 billion by hacking banks and cryptocurrency exchanges.


The U.N. Security Council North Korea Sanctions Committee as at the time further stated that hackers formed an essential part of North Korea’s government funding, reporting:


“Democratic People’s Republic of Korea cyber actors, many operating under the direction of the Reconnaissance General Bureau, raise money for its WMD (weapons of mass destruction) programs, with total proceeds to date estimated at up to two billion US dollars.” 


North Korea however denied the claims.



 

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