Australia Impose Sanctions on North Korean Lazarus Over $1.9B Crypto Theft

Australia has issued a bold crackdown against North Korean cybercrime syndicates, announcing sweeping sanctions on four entities, including the infamous Lazarus Group, for stealing at least A$1.9 billion ($1.23 billion) in cryptocurrency from companies around the world in 2024.

Australian Minister for Foreign Affairs Penny Wong revealed the move on Thursday to clamp down on Pyongyang’s covert weapons of mass destruction (WMD) programs via digital heists and illicit crypto flows.

“The scale of North Korea’s involvement in malicious cyber-enabled activities, including cryptocurrency theft, fraudulent IT work and espionage, is deeply concerning,” the release read.

The move comes after North Korea warned similar US sanctions could “antagonise” their supreme leader.

Lazarus, Other Hacker Groups Stole Billions, Laundered through Crypto

The Foreign Ministry has designated four hacking groups under the Reconnaissance General Bureau, North Korea’s intelligence agency – Lazarus Group, Kimsuky, Andariel and Chosun Expo. Besides, the sanctions list also includes an individual hacker, Park Jin-hyok of Chosun Expo.

The lone hacker has already been sanctioned by South Korea and the United States.

The release stated that North Korean cyber actors stole at least A$1.9 billion in cryptocurrency from companies around the world in 2024. They used a global network of North Korean nationals to launder the stolen digital assets.

The Multilateral Sanctions Monitoring Team report notes that the stolen assets in 2024 account 50% more than in 2023. From January – September 2025, the DPRK stole at least $1.645 billion in crypto, already surpassing estimates of its 2024 total.

“We all know the scale of risk and the threat that North Korea poses to the region,” Minister Wong said today.

“So we are always looking at ways to do more with other partners to put pressure on the regime, and starving them of funds is obviously a very important part of that.”