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South Korea is considering ways to block North Korea from financing its nuclear weapons and missile program through cyberspace activities, a senior foreign ministry official said Tuesday.

The North is widely believed to have engaged in cryptocurrency theft to finance its evolving nuclear and missile programs. According to a U.N. Security Council report released in April, the North is suspected of having stolen as much as $400 million worth of cryptocurrency in 2021.

"We plan to review and seek implementations of various measures in order to block North Korea's securing of funds for nuclear and missile development through activities in cyberspace," the official said on the customary condition of anonymity.

The official added Seoul was closely monitoring trends on North Korea's cryptocurrency theft activities through close cooperation with the United States. (Yonhap)