An unnamed South Korean government official has claimed that international sanctions are ineffective against North Korea’s crypto hacking campaign. According to the official, North Korea’s cybercrime-related activities are so extensive that the sanctions imposed against the country are rendered powerless. Last year, North Korea reportedly earned $2.3 billion from illegal foreign currency earnings, $700 million of which came from large-scale crypto raids. Pyongyang also allegedly profited from hacking attacks and phishing schemes. Despite accusations from the FBI that North Korea orchestrated the Ronin Bridge attack, Pyongyang denies authorizing any crypto hacking activities.
