Seoul to target North Korea’s illicit crypto assets with a new cyber bill
South Korea is getting ready to upgrade its cyber security to stop North Korean cyber attacks, especially those involving crypto currencies. Local reports indicate that high-ranking government officials view crypto as a crucial facilitator of Pyongyang’s illicit weapons programs, highlighting a perceived lack of vigilance in this regard during the previous administration. The forthcoming legislation seeks to counteract the exploitation of digital assets acquired by North Korean hackers. This is an addition that was absent from the draft initially proposed by the National Intelligence Service (NIS) in the previous year. Intelligence reports reveal that North Korean hackers managed to pilfer $1.28 billion worth of coins in 2022, employing tactics such as ransomware, scams, fraud, and various cyberattacks. This underscores the critical urgency for implementing robust countermeasures. You might also like: Stolen crypto from Atomic Wallet traced to North Korean-linked Mi...