Australia Sanctions North Korea’s Lazarus Group Over $1.9B Crypto Theft
Australia has imposed sweeping sanctions on four North Korean cybercrime entities, including the notorious Lazarus Group, for stealing A$1.9 billion ($1.23 billion) in cryptocurrency from global companies in 2024. Foreign Minister Penny Wong framed the move as a crackdown on Pyongyang's weapons programs funded through digital heists.
The Reconnaissance General Bureau-linked groups—Lazarus, Kimsuky, Andariel, and Chosun Expo—alongside hacker Park Jin-hyok, allegedly laundered stolen crypto through networks of North Korean operatives. This follows US and South Korean sanctions against similar activities.
Cyber espionage and fraudulent IT operations have become key revenue streams for North Korea's sanctioned weapons programs. The scale of theft—equivalent to 3% of the nation's estimated GDP—highlights cryptocurrencies' growing role in geopolitical conflicts.
