North Korea Possibly Behind Recent Crypto hacks?

North Korean Hacking
South Korea is one of the countries where the trade in cryptic diseases has increased most over the past six months. This is accompanied by an increase in hacker attacks on South Korean crypto exchanges. According to the news portal Bloomberg behind it now the neighboring state of North Korea is suspected.

According to this, North Korean hackers are trying to capture Bitcoin for the regime. Bloomberg refers to a report by the IT security provider, Fire Eye, who had investigated and documented the North Korean actions over the past year. An overview of the individual cases covered by Fire Eye can be found here.

According to the report, South Korean crypto exchanges have been under attack by North Korean hackers since April this year. Thus, the beginning of the large-scale North Korean hacking, in South Korea, causing it to fall into the era of the rapid rise in the use of cryptic diseases, especially Bitcoin. In total, three South Korean crypto exchanges have been affected by the attacks. The exchanges were stolen directly from the stock exchange as well as from individual users.

On Monday, the United States’ new economic initiatives against North Korea were formally adopted. The sanctions are directed towards oil supplies to North Korea and aim to make the North Korean regime increasingly ineffective.

The appropriation of Bitcoin and other cryptic stimuli gives Kim Jong-Un new possibilities for action. As a currency independent of any state control, Kim could act as an instrument to (at least partially) circumvent the sanctions and thus to move, collect, and store funds.

The reason for which South Korea has just become the target of the alleged hacker attacks in North Korea is partially due to the cultural and spatial proximity on the Korean peninsula. Above all, the absence of the language barrier for the North Korean hackers plays an important role. On the other hand, South Korea is attractive for hacks on crypto exchanges, as it is currently one of the largest commercial areas for Bitcoin. For example, the South Korea-based Crypto Exchange Bithumb is the second largest in the world and even the largest for the Ethereum trade. However, there is currently no reliable information on whether Bithumb is affected by hacker attacks.

Written by happy_c0der from The V Server

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