North Korea Trying to Hack Bitcoin Exchanges

In a desperate bid for financial resources, North Korea and Kim Jong-un are unleashing hackers against Bitcoin exchanges.

The continuing rise in Bitcoin value has had a lot of positive effects. People have made a lot of money on the cryptocurrency’s rise, and the accompanying headlines have brought more people into the crypto world. However, there is a downside to Bitcoin skyrocketing in value, which is having unsavory characters trying to get their hands on it through illegal means. One of the more notable black hats in this regard is Kim Jong-un and North Korea, who security experts say are targeting Bitcoin exchanges due to the digital currency’s increased demand.

Targeting Bitcoin

North Korea used to focus their cyber espionage on traditional state activities. That all began to change in 2016, when the cyber security company FireEye began to note that North Korea began to target banks and the global financial system. 2017 has seen several attacks against South Korean cryptocurrency exchanges, and this activity has since spread to banking groups in Europe and South Korea, Bitcoin exchanges, and even an ATM company.

Independent security expert Ashley Shen notes:

We assume one of the reasons why Bitcoin is being attacked is because the price keeps increasing and we think it’s reasonable for hackers (to target). Digital currency might be easier to gain than physical currency. So I think it’s reasonable.

Security experts have followed attacks by various hacking groups, such as Andariel, Lazarus, and Bluenoroff, and these groups are suspected to be front groups for North Korea…

Read Full: North Korea Trying to Hack Bitcoin Exchanges