The South Korean government is reportedly planning to submit a bill that will track and freeze North Korean crypto and virtual assets used to fund its capital Pyongyang’s illicit weapons program. The bill is said to reflect the country’s president’s beliefs that its cybersecurity framework needs to be repaired. It will also contain ways to “track and neutralize” crypto and other virtual assets stolen by North Korea through hacks and exploits.In addition, the administration is also reportedly planning on creating a national cybersecurity committee under the direct control of the president. This committee will be headed by the National Security Office’s chief and will include the NIS director.North Korean hackers have stolen a large amount of digital assets from numerous victims through different exploits. According to Blockchain intelligence firm TRM Labs, around $2 billion was lost to North Korean cyberattacks since 2018. The US Federal Bureau of Investigation (FBI) is also making an effort to track the state-backed hackers of North Korea. Recently, the FBI flagged six Bitcoin wallets connected to the North Korean hacking group Lazarus, which had 1,580 Bitcoin worth $40 million.

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Information	Details
Geography	Asia
Countries	🇺🇸
Sentiment	neutral
Relevance Score	10
People	None
Companies	Lazarus, Federal Bureau of Investigation, TRM Labs, National Intelligence Service, National Security Office
Currencies	Ethereum, Bitcoin, South Korean Won, US Dollar
Securities	None