Home Crypto South Korea Punishes North Korean Hackers for Cryptocurrency Robberies and Cyberattacks

South Korea Punishes North Korean Hackers for Cryptocurrency Robberies and Cyberattacks

by Stew Lane
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South Korea Punishes North Korean Hackers for Cryptocurrency Robberies and Cyberattacks

Cyberattacks from North Korea have become a severe issue for South Korean authorities as the country has lost over $1.2 billion since 2017 due to these terrible events. To combat these malicious activities North Korea has recently taken decisive action against rampant cybercrime by imposing its first autonomous sanctions on cryptocurrency theft and cyberattack linked to North Korean entities and individuals.

According to the Ministry of Foreign Affairs in Seoul, four persons including Park Jin-hyok, a major accused in ransomware attack in 2017 and seven organizations have been added to the blacklist for purportedly participating in these illicit activities. This is an important step towards curtailing illegal practices involving digital currency, as well as enhancing safety measures on the web.

Furthermore, it furthers South Korea’s stance as a leader in policy innovation regarding cyber-related issues.

South Korea’s Innovative Measures to Combat Cyber Attacks

This is not the first time the nation has been attacked; South Korea has gone through these terrible events multiple times.

To combat these events South Korea and the United States joined forces for a joint cybersecurity venture against ransomware attacks. The joint cybersecurity venture announced by South Korea and the United States is a much-welcomed move to combat ransomware attacks. This partnership can provide an effective barrier against such malicious activities.

This is crucial for both countries to take preemptive measures to protect themselves from nefarious online actions. The country’s efforts against cyber attacks have not gone unnoticed as its citizens enjoy a greater sense of security while their government continues to be proactive against potential cyber threats.

With these policies in place, South Korea is well-positioned to remain one of the most secure countries in terms of digital defense.

Stew Lane

Stew Lane's contributions as a crypto author extend beyond his writings. He actively engages with the crypto community, participating in conferences, industry events, and online forums, where he shares his knowledge and insights. His collaborative nature and commitment to fostering dialogue have earned him respect and admiration among his peers and crypto enthusiasts.

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