S. Korea should deepen work with U.S., Japan on sanctions against N.K. after Binance theft: expert

What happened: A U.S. cryptocurrency expert, Ari Redbord of TRM Labs, urged South Korea to deepen cooperation with the United States and Japan on sanctions against North Korea following a major theft at Binance. Key numbers: The FBI said North Korea was responsible for the theft of more than US$6 billion in cryptocurrency from Binance. Why it matters: Redbord said sanctions can help only if they target laundering infrastructure, and that the window to freeze and recover stolen funds is hours and days. South Korea's unification ministry said sanctions discussions had not begun.

A U.S. cryptocurrency expert, Ari Redbord of TRM Labs, urged South Korea to deepen cooperation with the United States and Japan on sanctions against North Korea following a major theft at Binance.

Redbord said sanctions can help only if they target laundering infrastructure, and that the window to freeze and recover stolen funds is hours and days. South Korea's unification ministry said sanctions discussions had not begun.