NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Could North Korea Be Harbouring an Army of Crypto-Hackers?

Rick Delafont
Rick Delafont
4 years ago
2 mins read
Swift, North Korea, cryptocurrency, hacking, bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Strong evidence is emerging that an elite team of hackers operating out of Pyongyang are stealing Bitcoin. It’s thought that the totalitarian nation is hoping to negate the effect of recent global trade embargos levied against them. As the UN sanctions tighten around the rogue state, it seems North Korea is turning to cybercrime to keep their economy buoyant.

The restrictions which followed the nation’s nuclear arms flex on September 3rd, 2017 will substantially hinder Kim Jong-un’s government’s ability to legally import gas and oil from China. However, Bitcoin is much easier to dodge sanctions with than traditional currency. The uniquely distributed payment system therefore opens a world of black market opportunities for those wishing to stay beneath the radar.

Whilst suspicion has been growing for some time, new research conducted by cybersecurity firm FireEye highlights a surge in spear-phishing attacks conducted against exchanges below the North/South divide. Luke McNamara of FireEye states:

“”It should be no surprise that cryptocurrencies, as an emerging asset class, are becoming a target of interest by a regime that operates in many ways like a criminal enterprise.”

Yuji Nakamura, and Sam Kim, report that FireEye have been able to trace hacks of multiple South Korean Bitcoin and Ethereum exchanges back to North Korean operators. Bithumb was one such target that back in May had its security compromised, costing $15 million and the sensitive details of many of their customers.

The allegations of spearfishing are just the latest example highlighting North Korea’s willingness to disregard any sort of international protocol. The nation is widely suspected of conducting various forms of illicit economic activity to aid their failing economy. In fact, it’s estimated that they’re able to bring $1bn into their coffers annually through such questionable practices. These include counterfeiting US dollars, producing narcotics, and smuggling gold.

As an executive, Kim Jong-un is no stranger to cybercrime either. From 2015 to 2016, several heists targeting the SWIFT global financial messaging service took place. The revenue generated is estimated to be well into the millions. Cybercrime experts attribute the acts to a ring known as the Lazarus Group who have later been linked with North Korea. It is unclear whether they’re a collective hired by Kim Jong-un’s government, or a secretive part of the state itself. McNamara notes the existence of a government agency known informally as Office 39, claiming them to be integral to the state’s ability to draw revenue and resources through black market means.

Whilst irrational to blame a tool for the actions of the craftsman, it’s likely that those Powers imposing sanctions on North Korea will take a dim view of the cryptocurrency thanks to North Korea’s cybercriminal activities. This would not be desirable for the asset’s proponents who are ever-striving for greater global acceptance.

Ref: SkyNews | Image: Shutterstock

 

Tweet123Share196ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Hyperliquid

Hyperliquid’s Days Numbered? Expert Forecasts ‘Painful Death’

The road ahead for Hyperliquid does not look so bright. In fact, the decentralized trading platform could face lots of...

Christian Encila 1 hour ago
Bitcoin news

Bitcoin Days Away From Blowoff Or Cycle Top, Veteran Analyst Warns

Bitcoin is approaching a decisive inflection in its four-year cycle, with a euphoric “blowoff” advance likely to begin within days—or...

Jake Simmons 2 hours ago
Bitcoin

Fundstrat’s Tom Lee Sees Bitcoin Tripling, Ether Rising 5X By Year-End

Fundstrat’s Tom Lee drew a crowd at Korea Blockchain Week 2025 with a bold call: Bitcoin could reach as high...

Christian Encila 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum Accumulator Addresses Inflows Explode: 400K ETH Added In 24H Despite Selloff

Ethereum Accumulator Addresses Inflows Explode: 400K ETH Added In 24H Despite Selloff

Sebastian Villafuerte 1 minute ago
New Wall Street ETF Hypes Market: Get Best Wallet as Your Personal Treasury

A New Frontier in Crypto Investing: GSR’s Treasury-Company ETF Proposal Lifts Best Wallet Prospects

Aaron Walker 19 minutes ago

Ethereum: scontro tra analisti, Andrew Kang smonta la tesi di Tom Lee

Orfeo Barone 35 minutes ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望 ― 0.30ドル到達と「買うべきミームコイン」論争

    ドージコイン 今後の展望 ―...

    1 hour ago
  • リップル 今後の展望:RLUSDステーブルコインがマネーマーケットファンドに統合

    リップル...

    1 hour ago
  • 仮想通貨プレセール動向:次世代ビットコインレイヤー2が資金を集める

    ...

    2 hours ago
  • テザーが5,000億ドル規模の資金調達を計画、今注目すべき仮想通貨おすすめ

    ...

    2 hours ago
  • 新しい仮想通貨のプレセールが250万ドル目前、投資家が急増中

    ...

    2 hours ago

Newsletter

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 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.