The U.S., South Korea and Japan confirmed that North Korea stole over $600 million in cryptocurrency in 2024 to fund its nuclear and missile development, emphasizing the need for greater collaboration between the public and private sectors to counter Pyongyang’s threat to virtual currency services.

In a joint statement released on Tuesday, the three countries warned of ongoing attempts by North Korean cybercriminals and remote information technology (IT) workers to compromise private firms as part of their efforts to generate illicit revenue.

“The DPRK’s cyber program threatens our three countries and the broader international community and, in particular, poses a