South Korea sets independent sanctions for crypto theft against North Korea

South Korea announced its first independent sanctions related to cryptocurrency thefts and cyber attacks against certain North Korean groups and individuals.

According to Seoul’s Ministry of Foreign Affairs, four North Korean individuals and seven businesses have been placed on a blacklist for their alleged involvement in cyberattacks and cryptocurrency theft,

These cyber activities, which are frequently connected to the Reconnaissance General Bureau, the North’s military intelligence agency, are thought to be one of the country’s main sources of funding for its nuclear and missile programmes despite the country being subject to severe international sanctions.