Bitcoin
BTC$42 031.59

-3.48%

Ethereum
ETH$2 918.83

-5.04%

Tether
USDT$1.000459

-0.02%

Cardano
ADA$2.12

-3.86%

Binance Coin
BNB$341.96

-1.79%

XRP
XRP$0.930539

-2.70%

North Korea Circumvents Sanctions Stealing Crypto


13 Mar 2019   #Bitcoin

The United Nations Security Council gathered an expert panel to acquire better insight about malfeasances by North Korean in the cyberspace. The report was centered on the notion that the criminal organization backed by the rogue state have been especially active when it came to obtaining cryptocurrencies either by hacking the exchanges or by resorting to extortion through the dissemination of malware.

The panel reported that thanks to numerous successful cyber attacks, which were executed in the period from 2015 to 2018, Pyongyang managed to accumulate approximately $650 million in cryptocurrencies and other virtual assets.

The experts also emphasized that North Korean has been actively utilizing the blockchain technology to conduct that attacks and evade economic sanctions imposed for impudent reluctance displayed by the regime with regard to winding down the nuclear missile program. The panelists believe that the major portion of the attacks was masterminded by the special hacker units which are under direct supervision of the North Korean military.

The recent instances of cyber attacks that may have been initiated by North Korea


Most cybersecurity companies are convinced that North Korea had its hands in most major hacks that took place recently. The fundamental reason for such unprecedented upsurge of activity of Pyongyang-backed criminals may reside in the severe economic sanctions that had greatly hindered the country’s exports of coal, which served as a primary source for legal obtainment of foreign currency.      

The hack that gained the headlines of all crypto news outlets involved stealing $500 million worth of cryptocurrency from the Japanese exchange called Coincheck, which happened last year on January 26. 

The hackers compromised the platform’s NEM hot wallet, which, by the way, wasn’t protected by XEMsign, the trademark multisignature contract security solution, and absconded with a half billion USD in NEM tokens. The investigation, conducted by the National Intelligence Agency of South Korea, hinted that the attack may have been made by their hostile northern neighbors.

The Bank of Bangladesh hack is another shining example of industriousness displayed by the cyber villains.They utilized the SWIFT network to persuade the Federal Reserve Bank of New York to transfer $851 million from the account that belonged to the Central Bank of Bangladesh to various accounts in Sri Lanka and Phillippines. The larger portion of the requested sum was flagged as suspicious and halted by the bank authorities, but $81 million, of which $18 had later been recovered, still landed in the hands of the perpetrators. The U.S. authorities established a link between the North Korean government and the attack and even pressed charges against a Korean programmer.

The organization that may stand behind the attacks


Most investigators concur that the infamous group of hackers, known collectively as Lazarus or the Hidden Cobra, have contributed to nearly all acts of cyber theft that took place in the aforementioned period of time.

The group was formed around 2009, and since that time, it has been terrorizing financial institutions and users around the world. The members of the Lazarus Group were the architects of AppleJesus, the malware campaign in the course of which they extorted crypto from Mac OS users. They were also associated with the notorious WannaCry ransomware as well as hundreds of attacks on different financial institutions in the US, Europe, and Asia.


Related

Bitcoin breaking new highs in Q4 will temporarily turn alts to dust
Bitcoin bulls make a run on $45K after Twitter debuts crypto tipping
Buyers have returned to cryptocurrencies
FBS Launches New Crypto Account with 100+ New Instruments
Bitcoin in good shape as long as BTC price stays above $40K
Is it a Buy-the-dip moment for crypto?
Bitcoin bounces to $43K ahead of fresh crypto comments from SEC Chair Gensler
Bitcoin loses $44K support as stocks, Evergrande nerves hit BTC price
Cryptocurrency market rebound dries up, alarmingly recalling 2018

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 74.8% 41 $42 031.59 -3.48% -2.59% $791 393 954 252 $31 747 117 181
2 Ethereum (ETH) ETH Ethereum predictions 73.2% 56 $2 918.83 -5.04% -3.78% $343 568 213 349 $17 440 054 934
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000459 -0.02% 0.01% $68 574 589 302 $69 040 305 714
4 Cardano (ADA) ADA Cardano predictions 68% 70 $2.12 -3.86% -2.03% $67 842 308 406 $2 790 874 402
5 Binance Coin (BNB) BNB Binance Coin predictions 68% 59 $341.96 -1.79% -7.48% $57 495 736 706 $1 499 392 995
6 XRP (XRP) XRP XRP predictions 75.6% 50 $0.930539 -2.70% -0.96% $43 472 608 125 $2 798 278 933
7 Solana (SOL) SOL Solana predictions 66% 68 $134.46 -7.35% -4.28% $39 991 503 535 $2 559 971 396
8 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000432 0% 0.01% $31 274 186 323 $3 304 747 454
9 Polkadot (DOT) DOT Polkadot predictions 68% 68 $27.75 -3.90% -5.26% $27 404 751 396 $1 534 718 165
10 Dogecoin (DOGE) DOGE Dogecoin predictions 66% 63 $0.200627 -1.87% -6.10% $26 377 191 591 $850 603 349
11 UniSwap (UNI) UNI UniSwap predictions 67.2% 68 $24.35 1.57% 14.50% $14 894 976 126 $1 220 639 004
12 Avalanche (AVAX) AVAX Avalanche predictions 60.8% 84 $66.26 -7.62% 2.41% $14 596 076 840 $1 012 955 214
13 Terra (LUNA) LUNA Terra predictions 68.8% 61 $35.29 -4.09% 24.68% $14 110 398 958 $1 562 373 257
14 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $1.000438 0.02% -0.01% $13 532 008 893 $4 826 393 143
15 Chainlink (LINK) LINK Chainlink predictions 67.6% 70 $23.39 -2.95% -1.74% $10 644 298 254 $1 068 673 199

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.