Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

U.S. Calls North Korean Hackers ‘World’s Leading Bank Robbers’

U.S. Calls North Korean Hackers ‘World’s Leading Bank Robbers’

North Korea was accused of being behind the 2014 hack of an internal computer network of Sony Pictures Entertainment Inc., an audacious attack that exposed Hollywood secrets and destroyed company data.

On Wednesday, U.S. officials said that was only the beginning.

In indicting three North Korean computer programmers for their involvement in the Sony hack and other attacks on global banking, financial, entertainment and cryptocurrency entities, the U.S. Justice Department accused them and a group of conspirators of extorting more than $1.3 billion of cash and cryptocurrency.

The attacks included the attempted theft of nearly $1 billion from the central bank of Bangladesh in 2016, and a year later, holding two Central American casinos hostage for more than $2.5 million in ransom, according to U.S. officials.

More recently, the group has focused on stealing cryptocurrencies, according to prosecutors. The hackers discreetly injected malicious software into their own line of digital currency applications, granting them access to the devices of their victims, which included cryptocurrency companies in Slovenia and Indonesia and an unnamed financial services firm in New York.

In all, the victims of the cryptocurrency scam lost more than $100 million, according to the U.S.

North Korea’s hackers “have become the world’s leading bank robbers,” said John Demers, head of the Justice Department’s National Security Devision. “Simply put, the regime has become a criminal syndicate with a flag, which harnesses its state resources to steal hundreds of millions of dollars.”

The Indictment


The North Korean hackers were identified as Jon Chang Hyok, Kim Il and Park Jin Hyok. Other North Koreans allegedly involved in the conspiracy weren’t named. The indictment unsealed Wednesday expands on a criminal complaint charging Park in 2018 for his alleged involvement in a conspiracy to conduct multiple cyber-attacks, including the Sony hack.

In the face of global sanctions to punish it for its nuclear weapons program, North Korea has relied heavily on cybercrime to fill its depleted coffers. It had taken in about $2 billion in 2019 through the worldwide theft of resources from the financial sector, according to testimony to a U.S. House committee in June.

The alleged hacking campaign outlined on Wednesday was part of an elaborate operation aimed at collecting money for North Korea’s Reconnaissance General Bureau, a military intelligence agency.

Pyongyang uses the Reconnaissance General Bureau to run its cybercrimes, according to a United Nations Panel of Experts responsible for investigating North Korea’s sanctions evasion. The agency’s hacking units are known as Lazarus Group and APT38.

As the North Korean hackers targeted institutions around the globe, from Los Angeles to Malta to Taiwan, the victims were either forced to or unknowingly lured into paying to prop up the North Korean regime, Demers said.

“According to several Member States, as well as open-source reports, the Democratic People’s Republic of Korea continues to target virtual asset service providers (for example, cryptocurrency exchange houses) and financial institutions for the purpose of evading United Nations sanctions,” the UN Experts’ panel said in a report last year.

Canadian Accomplice


To help move their money, the North Koreans allegedly turned to a Canadian man, Ghaleb Alaumary, who’s accused of organizing teams to launder millions of dollars stolen from automated teller machines, the U.S. said. Their victims included Pakistan’s BankIslami and an Indian bank, according to prosecutors.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
Italy Faces Population Decline Amid Youth Emigration
Trump Accuses China of Violating Trade Agreement
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Russia Accuses Serbia of Supplying Arms to Ukraine
Gerry Adams Wins Libel Case Against BBC
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
EU Majority Demands Hungary Reverse Anti-LGBTQ+ Laws
Top Hotel Picks for 2025 Stays in Budapest Revealed
Iron Maiden Unveils 2025 Tour Setlist in Budapest
Chinese Film Week Opens in Budapest to Promote Cultural Exchange
Budapest Airport Launches Direct Flights to Shymkent
Von der Leyen Denies Urging EU Officials to Skip Budapest Pride
Alcaraz and Sinner Advance with Convincing Wins at Roland Garros
EU Ministers Lack Consensus on Sanctioning Hungary Over Rule of Law
EU Nations Urge Action Against Hungary's Pride Parade Ban
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
U.S. Considers Withdrawing Troops from Europe
Russia Deploys Motorbike Squads in Ukraine Conflict
Critics Accuse European Court of Human Rights of Overreach
Spain Proposes 100% Tax on Non-EU Holiday Home Purchases
German Intelligence Labels AfD as Far-Right Extremist
Geert Wilders Threatens Dutch Coalition Over Migration Policy
Hungary Faces Multiple Challenges Amid EU Tensions and Political Shifts
Denmark Increases Retirement Age to 70, Setting a European Precedent
Any trade deal with US must be based on respect not threats', says EU commissioner
UK Leads in Remote Work Adoption, Averaging 1.8 Days a Week
Thirteen Killed in Russian Attacks Across Ukraine
High-Profile Incidents and Political Developments Dominate Global News
Netanyahu Accuses Western Leaders of 'Emboldening Hamas'
Ukraine and Russia Conduct Largest Prisoner Exchange of the War
×