3 North Korean military hackers charged in US over plans to steal over S$1.7 billion from banks

A U.S. Assistant Attorney General called North Korea a "crime syndicate with a flag".

Andrew Koay | February 18, 2021, 12:49 PM

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Three North Korean military hackers have been charged in the United States over a conspiracy to steal and extort more than US$1.3 billion (S$1.7 billion) from different banks and business across the world.

In a Feb. 17 announcement, the U.S. Department of Justice (DOJ) said the men are also accused of deploying malicious cryptocurrency programmes and developing a fraudulent blockchain platform.

The three men — Jon Chang Hyok, 31; Kim Il, 27; and Park Jin Hyok, 36 — are said to work for the Reconnaissance General Bureau (RGB), North Korea's military intelligence agency.

They are currently believed to be in North Korea, which does not extradite its citizens to face charges in the U.S., reported the BBC.

In addition, a Canadian-American citizen was charged with being the group's money launderer.

Schemes to steal from banks around the world

The group attempted to steal from banks in Vietnam, Bangladesh, Taiwan, Mexico, Malta, and Africa by hacking the banks’ computer networks and sending fraudulent Society for Worldwide Interbank Financial Telecommunication (SWIFT) messages.

According to the DOJ, the men are also alleged to be behind the 2014's cyberattack on Sony Pictures Entertainment.

That attack was in retaliation to the Seth Rogan and James Franco comedy "The Interview", which depicted a fictional assassination attempt on North Korean leader Kim Jong-un.

"A criminal syndicate with a flag"

Commenting on the charges, U.S. Assistant Attorney General John Demers called North Korean operatives "the world's leading bank robbers".

"Simply put, the regime has become a criminal syndicate with a flag."

A BBC Analyst wrote that while governments usually used cybersecurity attacks for espionage or political meddling, North Korea typically engaged in the such activities for financial gain.

Having achieved considerable success — to the tune of more than US$1 billion (S$1.3 billion) — the stolen funds are used to prop up the country's struggling economy.

Top image from the U.S. Department of Justice

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