Sydney: Australia on Thursday imposed financial sanctions and travel bans on four entities and one individual over allegedly engaging in cybercrime to support and fund North Korea's weapons of mass destruction and ballistic missile programs. In a statement, Foreign Minister Penny Wong highlighted the decision's basis on evidence linking North Korean cyber actors to large-scale cryptocurrency theft and fraudulent IT work aimed at evading sanctions and financing the country's weapons activities.

According to Anadolu Agency, Wong cited a report by the Multilateral Sanctions Monitoring Team, responsible for overseeing the enforcement of UN sanctions on North Korea. The report indicates that North Korean hackers stole at least $1.9 billion in cryptocurrency globally in 2024, utilizing a network of North Korean nationals and foreign facilitators to launder the stolen digital assets.

"The Australia Government is taking this action with the United States to apply pressure on North Korea's illegal revenue generation networks and address its persistent challenges to security and stability," Wong stated. This move aligns with the U.S. Treasury Department's recent imposition of sanctions on eight individuals and two entities involved in laundering funds from illicit schemes conducted by North Korea, including cybercrime and overseas IT worker exploitation.