Bitcoin north korea war


bitcoin north korea war

bitcoin (and other cryptocurrency) is built on a distributed network of users controlling verified transactions. The popular cryptocurrency is attractive because of its decentralized nature. Korea Internet and Security Agency (kisa) attributed the first attack on Youbit, which resulted in the loss of 4,000 bitcoins, to hackers based in North Korea. North Korea has been struggling under economic uncertainty since the international community unleashed a series of new sanctions to clamp down fears. When you're the leader of a heavily sanctioned country, then, loading up on decentralized currency is particularly attractive. Bitcoin could be the biggest global sting operation ever, says Andy Norton, director of threat intelligence at Lastline. Twitter worldcoinindex, unstoppable: The meteoric rise of Bitcoin has made it attractive for hackers. Cryptocurrency exchanges from neighboring South Koreawhich account for 15 to 25 percent of world bitcoin tradingappear to be the main target of the hackers, with the countrys largest exchange platform, Bithumb, hacked in July. For the spate of attacks not to lead on to a collapse of bitcoin and other cryptocurrencies, security researchers say exchanges need to apply a much greater focus on cybersecurity. Or we take military pre-emptive action. We need to see much greater transparency in the adoption of modern authentication techniques throughout this industry.

Bitcoin north korea war
bitcoin north korea war

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Bitcoin's soaring price, which shows no sign of slowing down, is making it increasingly attractive to hackers in North Korea. Independent security researcher Ashley Shen and her colleagues have tracked attacks on Bitcoin exchanges by hacking groups that they believe can be traced back to the Asian country. It is suggested US President Donald Trump who has been engaged in a verbal spat with leader Kim Jong-un since Summer 2017 may be on the verge to unleash a pre-emptive strike on Pyongyang. "We have noticed North Korean hackers actually pivot to start going after places like cryptocurrency exchanges in South Korea. If North Korea are using it to avoid sanctions it could lead to a coordinated response by various governments to shut down access to those funds locked in bitcoin. North Korea has also turned to more indirect forms of theft as it seeks to amass a bitcoin war chest.

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