The DPRK authorities are using hackers to attack cryptocurrency exchanges, in particular Bitcoin. Sky News reports this with reference to experts in the field of cybersecurity.
“We believe that the reason why Bitcoin is under attack lies in the growing value of [cryptocurrency]. This is what we think makes sense for hackers... Cryptocurrency is easier to obtain than cash,” said Ashley Sheng, a cybersecurity researcher.
Sheng and her colleagues tracked attacks by suspected North Korean hacking groups on financial institutions, including Bitcoin exchanges. According to her, the hackers intend to take possession of cryptocurrency. However, the expert added, so far their attempts have not been crowned with success.
An analyst from South Korea, who wished to remain anonymous, emphasized that previously North Korean hackers, under the patronage of the state, staged attacks to paralyze society, and only recently did their target become finance itself.
North Korea has traditionally engaged in cyber-espionage of government agencies, but in 2016, the vector of efforts of North Korean hackers began to shift towards crypto exchanges. Thus, in 2017, there have already been several attacks on South Korean exchangers, attacks on European banks, and even an attempt to hack an ATM company. In 2017, these hackers organized at least five attacks on resources, in particular on the South Korean exchange Yapizon.
In April, attacks were recorded on four wallets of the South Korean cryptocurrency exchange Yapizon
Another victim of North Korean hackers was the largest ethereum exchanger Bithumb, TechCrunch journalists suggest. In June, he lost more than $1 million due to the attack.
FireEye believes that the DPRK began to steal cryptocurrency more often due to increased sanctions against the country.
In addition, due to the lack of regulation in most countries, many exchanges and exchangers do not combat money laundering. This allows North Korean hackers to exchange cryptocurrency for real money. According to South Korean authorities, an elite group of hackers could bring North Korea about $860 million annually from cyberattacks on financial institutions in other countries.
According to https://news.sky.com
You May Also Like
The Robinhood scandal is gaining momentum
The American trading platform Robinhood, which deals with both cryptocurrencies and traditional assets, has come under fire after information emerged that the company was secretly selling confidential data of its users to third parties. Robinhood employees released a statement denying this, but the allegations against the company do deserve closer attention.
Huobi Exchange may cancel trading of 32 cryptocurrencies
Huobi, one of the largest cryptocurrency exchanges in the world, recently published a list of 32 digital currencies that are at risk. The company marks with the “ST” label companies that issue tokens and do not publish their quarterly or semi-annual report on time twice in a row.
