North Korea Hackers Stole $721 Million Cryptocurrency from Japan

A group of hackers linked to North Korea have reportedly stolen $721 million worth of cryptocurrency assets from Japan. The hackers have allegedly been stealing the assets since 2017.

In a report by Nikkei business daily on Monday, a study by the United Kingdom-based blockchain analysis provider Elliptic found that North Korean hackers have stolen $721 million worth of assets in cryptocurrency from Japan since 2017. The amount is said to be equal to 30 percent of the total losses globally. The report also follows the recent meeting of finance ministers and central bank chiefs of the G7 countries, where they released a joint statement expressing support for measures that could counter growing threats posed by state actors, including the theft of cryptocurrency assets.

According to the study by Elliptic, North Korea stole an overall $2.3 billion in cryptocurrency from businesses between 2017 and 2022.

Last week, the North Korean foreign ministry warned Japan against joining the nuclear consulting group led by the United States and also included South Korea, citing that by taking part in the group, northeast Asia would become unstable. The Nuclear Consultative Group was announced during a state visit by South Korean President Yoon Suk-yeol to the US last month, which Seoul would have more insight into nuclear planning in the event of a potential military conflict with North Korea.

“If Japan persistently resorts to forming the US-led tripartite military alliance, it will plunge northeast Asia into instability and finally turn it into a sea of flames, where it will perish,” said Kim Sol-hwa of the North Korean foreign ministry’s institute for Japan studies in an editorial, aiming at Japanese Prime Minister Fumio Kishida who visited South Korea over the weekend in what would be the first bilateral trip in 12 years.

The nuclear consultative group was also part of the so-called “Washington Declaration” made during Yoon’s visit to the US, in which the South Korean leader said the agreement has “upgraded” the alliance between South Korea and the US and that Japan is not ruled out from joining the NCG.

The agreement also included a renewed pledge from South Korea not to pursue nuclear weapons of its own.

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