A North Korean hacker crew called Lazarus Group has been accused of carrying out a heist on cryptocurrency exchange KuCoin, dubbed the.
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- US charges three North Koreans in $1.3 billion hacking scheme
- US charges three North Korean hackers over $bn cryptocurrency attacks | Hacking | The Guardian
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US charges three North Koreans in $1.3 billion hacking scheme
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For a hermit kingdom that is cut off from the modern financial system and has little access to hard currency, it is easy to understand why bitcoin is so appealing. It is the perfect solution for the nation's financial problems caused by years of disconnection from the global economy. Thanks to susceptible ancillary services like wallets and exchanges, North Korea can effectively mine or steal bitcoin to support its economy and missile program. While it is true that bitcoin transactions can be traced via the decentralized ledger, the numerous ways to scatter and withdraw bitcoins outside of mainstream finance, whether via a process called tumbling or person-to-person transactions on LocalBitcoins.
A perfect example is the WannaCry ransomware, which locked users out of their computers until they paid a ransom in bitcoin. Apart from the focus on outright theft, mining is a component of North Korea's multi-faceted tactics. Despite sanctions on coal exports to China, its main trading partner, using cheap coal power for bitcoin mining gives the North Koreans a substantial edge.
- bitcoin home based opportunity.
- storing bitcoin on coinbase.
- download bitcoin dataset?
- Feds Indict North Korean Hackers for Years of Heists and Scams.
- U.S. charges North Korean hackers in $1.3 billion theft scheme;
The even bigger question though is how are these revenues spent? Is it for financing weapons development programs, funding more attacks, or just propping up the broader economy? As far as North Korea's effect on bitcoin price is concerned, the North Korean regime's crypto activities are most likely driving up the price of digital currencies. At the same time, North Korea can take advantage of the investments or illicit gains in relative anonymity thanks to the lack of oversight and decentralized properties of cryptocurrencies.
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US charges three North Korean hackers over $bn cryptocurrency attacks | Hacking | The Guardian
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