In a written statement to Yonhap on Thursday, U.S. blockchain intelligence specialist Ari Redbord, head of policy at TRM Labs, called on South Korea to intensify sanctions cooperation with the United States and Japan after a $6 billion theft from Binance was linked by the FBI to North Korean hackers. The expert urged that South Korean policy makers consider both unilateral and multilateral sanctions, diplomatic pressure on North Korea and on countries that facilitate its money‑laundering network, and swift, targeted actions to freeze stolen funds within hours and days, not months.
The Federal Bureau of Investigation confirmed that the theft involved more than US$6 billion in cryptocurrency and attributed the operation to North Korea. Pyongyang has denied the claim, calling it a “grave political provocation” against the North. South Korean financial regulators instantly convened cryptocurrency exchanges to review security protocols following the incident, but Redbord noted that the speed and coordination of efforts to block illicit transactions were inadequate.
South Korea’s unification ministry said it had not yet begun any sanction discussions because the full circumstances of the alleged theft were still being determined. The foreign ministry is “internally reviewing possible additional measures, including unilateral cyber sanctions,” but has not made a decision. Redbord argued that any new sanctions would be most effective if they specifically target the laundering networks that convert stolen digital assets into conventional currency.
