South Korea Cracks Down on Crypto Crime, New Unit to Sort out Lazarus Group Menace

• New crypto-crime activity power in South Korea set for launch subsequent spring.
• North Korea’s Lazarus Group implicated in $150,000 crypto laundering.
• Digital Asset Consumer Safety Act enforces heavy penalties for crypto crimes.

South Korean prosecutors are making ready to launch a brand new joint crypto-crime investigation division subsequent spring. As reported by Aju Press, this strategic shift goals to deal with communication gaps with home businesses just like the Monetary Intelligence Unit (FIU) and different worldwide our bodies.

The present ad-hoc unit will transition right into a full-fledged division, enabling higher coordination and environment friendly dealing with of crypto-related offenses.

This improvement comes amid new proof suggesting that North Korea’s Lazarus Group lately laundered over $150,000 in stolen cryptocurrency via a Cambodian funds agency. The subtle ways employed by the attackers spotlight the challenges in combating crypto-related crime within the Asia area. Lazarus Group, a state-sponsored hacker group, reportedly derives over 50% of its international forex via cybercrime, with cryptocurrency hacking alone contributing a staggering $3 billion to their cof…

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