South Korea's National Intelligence Service (NIS) revealed on Wednesday that North Korea conducted two separate cryptocurrency thefts last year, amounting to a total value of US$700 million.

The NIS confirmed that North Korea has yet to monetize the stolen virtual assets, but they are concerned that the country is likely to intensify its efforts to do so.

It is estimated that the earnings from these cyber-attacks account for approximately 30 percent of North Korea's total foreign currency earnings.

To counter the rising cyber attacks, the NIS plans to enhance cooperation with local cryptocurrency exchange operators.

This joint effort aims to bolster defenses against North Korea's ongoing and growing cyber threats in the financial domain. (ILKHA)