• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit

North Korea Taps Bitcoin to Circumvent US Sanctions, More Hacks to Follow

newsbtc by newsbtc
5 years ago
in Bitcoin
Reading Time: 2 mins read
Advertisement
Advertisement

North Korea seemingly wants to bypass the sanctions imposed upon the nation by the US government. Doing so will require a very creative approach. So far, it seems the country’s government leans toward using bitcoin for this specific purpose.

North Korea and Bitcoin

It is evident there are growing rumors regarding North Korea and Bitcoin. For quite some time now, people have voiced concerns over this nation’s affinity with cryptocurrency. With the US continually imposing new sanctions on North Korea, something has to give eventually. Even though Kim Jong Un will not change his overall approach, he is considering the use of Bitcoin to bypass these sanctions.

The latest sanction comes in the form of firms and shipping companies allegedly aiding North Korea’s nuclear programs. Although it remains to be seen if there is any truth to this, the repercussions are very dire. The US government wants to cut off all revenue streams in the communist country. They fear any new capital will be used immediately to fund the nation’s weapons programs.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Whether or not these sanctions have any lasting impact, remains to be seen. So far, North Korea is not effectively suffering from the US’ actions. Instead, they look for new revenue streams to keep doing their thing. The rule of cryptocurrencies should not be underestimated in this regard. This borderless and bankless currency cannot be blocked by any government. As such, it makes perfect sense for North Korea to explore with this option.

More Hacking Attempts to Follow?

Assuming North Korea will explore the Bitcoin option, they will need a lot of cryptocurrency moving forward. One way to obtain that is by doing the same thing the country has done for years now. By targeting South Korean exchanges and effectively hacking them, a lot of currency can flow into North Korea without too many problems. Right now, it is estimated the communist nation earns up to $200 by selling cryptocurrency every year.

A report from Recorded Future shows North Korea’s keen interest in Bitcoin. More specifically, it shows how government actors purposefully target South Korean cryptocurrency exchanges for financial gain. They also go after South Korean college students interested in foreign affairs. This report seemingly indicates is also linked to the WannaCry malware in a roundabout way. Rest assured we will see more of these attacks as time progresses.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

It is evident all of this momentum will further tarnish Bitcoin’s public image. Most people are Bitcoin-averse due to its ties to criminal activity. If communist nations now start to show an active interest in this currency, that situation will not improve anytime soon. For the time being, we have to wait and see how this situation evolves. It is evident cryptocurrencies open new opportunities, although not all of them are positive in this regard.

Tags: bitcoinNorth Koreasanctions
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Bitcoin

Bitcoin (BTC) To Tap Into $30,000 Region Before A Slow Down, Here’s Why

1 day ago
US To Sell 41,500 Bitcoin (BTC) In Four Batches, Crash Inevitable?

US To Sell 41,500 Bitcoin (BTC) In Four Batches, Crash Inevitable?

1 day ago
Bitcoin

Bitcoin Bear Market Over? This Historic On-Chain Signal Suggests So

1 day ago
Bitcoin

Bitcoin Investors Remain Greedy Despite Low Momentum, Why?

1 day ago
Bitcoin

Bitcoin Investors On Edge As Whales Take Profits, Ending Price Rally

2 days ago
Bitcoin and Ethereum Correlation

Bitcoin And Ethereum Correlation At A Staggering 97%, BTC Rally Incoming?

2 days ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    1 week ago
  • Crypto Investment for Long Term Growth in 2023

    1 week ago
  • 5 Cryptocurrency To Invest In 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • Ripple XRP Price Prediction 2023 – 2025 plus 5 Tokens...

    4 hours ago
  • Ethereum Price Prediction 2023 – Why This New Meme...

    8 hours ago
  • Discover Big Eyes Coin And Optimism As They Continue To...

    11 hours ago
  • Ethereum’s Shanghai Upgrade Goes Live April 12...

    11 hours ago
  • Metacade’s Presale Raises an Astounding $15.4m...

    12 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.