Bitcoin in North Korea and Other Places You’d Never Expect
The number of bitcoin merchants surpassed the 100,000 mark in 2015 and has grown across Europe and Asia due to the expansion of well-established bitcoin startups like Coinbase, Bitpay and Coinify. BitPay alone has processed over 800,000 transactions totaling around US$260 million between 2013 and 2015. Such growth has led to an increase of global bitcoin usage enabling cryptocurrencies to reach some of the most remote and unexpected parts of the world, including North Korea, Tenerife, Pakistan, Kazakhstan, Sudan, Siberia, and the Sahara. On a national tour with a bitcoin-friendly travel....
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But the threats by North Korea extend to the cyberspace department as well. South Korean officials claim the North has “an effective cyber army”, which has been responsible for various attacks over the past few years. The war between North Korea and South Korea is still going on behind the scenes to this very day. A new report surfaced as to how North Korean hackers stole data of over 10 million South Korean shoppers. While these claims have yet to be proven, the police are investigating the data breach. Once again, this is a clear example of how more secure solutions are needed to....
A panel of experts at the United Nations says that North Korea has amassed $316 million in cryptocurrencies from various cyberattacks on crypto exchanges and financial institutions. The panel also investigated North Korea’s involvement in the $281 million hack of a crypto exchange. UN Expert Panel Sheds Light on North Korea’s Cyberattack Activities A United Nations panel of experts has submitted a draft report reviewing the measures on North Korea to the Security Council’s North Korea Sanctions Committee. Nikkei says it has obtained a copy of the document, noting that it....
North Korea has always hogged the headlines – not only for its “habitual” firing of ballistic missiles (which irks Uncle Sam and his allies) – but also for its passion for (allegedly) stealing other countries’ crypto. On Thursday, (Feb. 10), North Korea accused the US of stealing funds and committing underhanded cybercrime just days after […]
Cyberattacks on cryptocurrency exchanges have been a major source of funds for North Korea in the past year, a United Nations report has unveiled. According to the document, the sanctioned nation has also been developing its nuclear and missile programs. North Korea Hits Cryptocurrency Exchanges, Sanctions Monitors Say Hackers controlled by the Democratic People’s Republic of Korea (DPRK) have continued to target financial institutions and crypto platforms such as exchanges, Reuters reported citing a confidential U.N. report. Its annual edition, produced by independent sanctions....
U.N. experts estimate that over $316 million in crypto was stolen by North Korea-linked hackers last year.