US, Japan and South Korea issue joint statement warning against North Korean crypto thefts

The United States, Japan and the Republic of Korea (South Korea) have issued a joint statement warning the blockchain industry against crypto thefts committed by the Democratic People's Republic of Korea (DPRK or North Korea).

The three governments say they remain committed to preventing thefts by and recovering stolen funds from North Korean bad actors, as the funds are used to finance weapons of mass destruction and ballistic missile programs, according to a Tuesday statement issued by the U.S. Department of State.

Recent crypto thefts tied to North Korea include $308 million stolen from the Japanese crypto firm DMM Bitcoin in May 2024, with the firm shutting down in December.

"The advanced persistent threat groups affiliated with the DPRK, including the Lazarus Group , which was designated by the relevant authorities of our three countries, continue to demonstrate a pattern of malicious behavior in cyberspace by conducting numerous cybercrime campaigns to steal cryptocurrency and targeting exchanges, digital asset custodians and individual users," according to the release.

"Deeper collaboration among the public and private sectors of the three countries is essential to proactively disrupt these malicious actors’ cybercrime operations, protect private business interests and secure the international financial system," the release continues.

In December, the U.S. sanctioned three entities allegedly money laundering stolen crypto funds on behalf of North Korea.