US charges North Korean officials with cyber theft

Washington: The US Justice Department charged three North Korean military intelligence officials Wednesday in a campaign of cyberattacks to steal $1.3 billion in crypto and traditional currencies from banks and other targets.

The department accused the three of a wide-ranging hacking and malware operation to obtain funds for their government while avoiding punishing UN sanctions that have cinched off its sources of income. Over at least seven years, the officials created malicious cryptocurrency applications that opened back doors into targets' computers; hacked into companies marketing and trading digital currencies like bitcoin; and developed a blockchain platform to evade sanctions and secretly raise funds, the department said.