According to a new report released by the South Korean National Intelligence Service NIS to the press, North Korean hackers cannot use cryptocurrencies through the South after the new identity verification (KYC) regulations implemented in the country.
According to the intelligence report North Korean Hackers added $620 million worth of cryptocurrencies to the country’s resources in 2022. According to the intelligence agency’s report, about 1 million North Korean attacks were blocked in November alone.
According to an NIS spokesperson’s report, North Korean hackers were able to come from overseas via South Korea. DeFi It embezzled $620 million through its platforms.
“With the new KYC regulations we have implemented in Korea, we have prevented North Korea’s activities.”
Last year, South Korea made the know-your-customer (KYC) process mandatory for all operating companies for cryptocurrency platforms. In addition, it has become mandatory for crypto money companies that want to operate in the country to obtain approval from the Financial Services Commission.
Lazrus, one of the North Korean hacker groups, was held responsible for the $ 100 million attack on Harmony. While NIS expects attacks originating from North Korea to increase in the next year, it claims that it will overcome this situation with its new authentication procedure:
“We are closely analyzing the attacks originating from North Korea. We will overcome them all with the KYC verification procedure.”
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