Australia Impose Sanctions on North Korean Lazarus Over $1.9B Crypto Theft
Australia has issued a daring crackdown towards North Korean cybercrime syndicates, saying sweeping sanctions on 4 entities, together with the notorious Lazarus Group, for stealing no less than A$1.9 billion ($1.23 billion) in cryptocurrency from corporations world wide in 2024.
Australian Minister for Foreign Affairs Penny Wong revealed the move on Thursday to clamp down on Pyongyang’s covert weapons of mass destruction (WMD) applications by way of digital heists and illicit crypto flows.
“The scale of North Korea’s involvement in malicious cyber-enabled actions, together with cryptocurrency theft, fraudulent IT work and espionage, is deeply regarding,” the discharge learn.
The transfer comes after North Korea warned comparable US sanctions could “antagonise” their supreme chief.
Lazarus, Other Hacker Groups Stole Billions, Laundered by Crypto
The Foreign Ministry has designated four hacking groups below the Reconnaissance General Bureau, North Korea’s intelligence company – Lazarus Group, Kimsuky, Andariel and Chosun Expo. Besides, the sanctions listing additionally contains a person hacker, Park Jin-hyok of Chosun Expo.
The lone hacker has already been sanctioned by South Korea and the United States.
The launch said that North Korean cyber actors stole no less than A$1.9 billion in cryptocurrency from corporations world wide in 2024. They used a world community of North Korean nationals to launder the stolen digital belongings.
The Multilateral Sanctions Monitoring Team report notes that the stolen belongings in 2024 account 50% greater than in 2023. From January – September 2025, the DPRK stole no less than $1.645 billion in crypto, already surpassing estimates of its 2024 whole.
“We all know the size of threat and the risk that North Korea poses to the area,” Minister Wong said today.
“So we’re at all times taking a look at methods to do extra with different companions to place strain on the regime, and ravenous them of funds is clearly a vital a part of that.”
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