Bloomberg: N.Korea Hackers Step up Bitcoin Attacks

Write : 2017-09-12 10:59:18 Update : 2017-09-12 14:00:28

Bloomberg: N.Korea Hackers Step up Bitcoin Attacks

North Korea is reportedly stepping up efforts to secure bitcoin and other cryptocurrencies that can be used to avoid trade restrictions including new sanctions approved by the UN Security Council.
 
Bloomberg said Tuesday that according to a new report from security researcher FireEye Inc., hackers from Kim Jong-un’s regime are increasing their attacks on cryptocurrency exchanges in South Korea and related sites.
 
The report said that North Korean hackers also breached an English-language bitcoin news Web site and collected bitcoin ransom payments from global victims of the malware WannaCry.
 
Bloomberg said the North Korean leader's apparent interest in cryptocurrencies comes amid their rising prices and popularity. 
 
It said that a lack of state control and secretiveness would also make them useful fund raising and money laundering tools for Kim.
 
With tightening sanctions and the use of cyber currencies broadening, security experts say North Korea’s embrace of digital cash will only increase.
 
Luke McNamara, a researcher at FireEye and author of the report, was quoted as saying that North Korea probably views this sort of activity as a very low-cost solution to bring in hard cash.

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