(MENAFN) Australia has imposed financial restrictions and travel bans on four organizations and one individual accused of supporting North Korea’s weapons of mass destruction and ballistic missile programs through cybercrime.

Foreign Minister Penny Wong said the measures respond to evidence that North Korean-linked cyber actors engaged in large-scale cryptocurrency theft, fraudulent IT operations, and espionage to bypass sanctions and fund the country’s weapons development. According to reports from the Multilateral Sanctions Monitoring Team, North Korean hackers stole at least $1.9 billion in cryptocurrency worldwide in 2024, using a network of domestic and foreign facilitators to launder the funds.

Wong emphasized: "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."

Earlier this week, the US Treasury also sanctioned eight individuals and two entities involved in laundering funds from North Korean cybercrime and overseas IT worker exploitation.

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