BTC$64 364.24


ETH$3 416.30




Binance Coin






North Korea Circumvents Sanctions Stealing Crypto

13 Mar 2019


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.


NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin’s continued slide down
Bitcoin’s continued slide down
A new round of crypto market mistrust
A new round of crypto market mistrust
Bitcoin holds its range, but pressure mounts
Bitcoin holds its range, but pressure mounts
Bitcoin unlikely to end correction
Bitcoin unlikely to end correction
Bitcoin looks set to take a severe dive
Bitcoin looks set to take a severe dive
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 78% 43 $64 364.24 -0.32% 11.97% $1 269 716 723 462 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 76% 50 $3 416.30 -0.72% 10.22% $410 712 230 766 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $1.000190 -0.02% 0.03% $113 246 119 775 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 74.4% 43 $570.57 -0.84% 9.29% $84 205 292 105 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 82% 36 $156.65 -2.73% 11.05% $72 712 740 994 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 77.6% 43 $0.630018 8.50% 44.13% $35 158 388 966 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000058 0.01% 0.01% $33 786 650 760 USDC 7 days price change
8 Toncoin (TON) TON Toncoin predictions 90% 13 $7.13 -2.95% -1.57% $17 903 663 385 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 73.6% 55 $0.122344 -1.78% 14.15% $17 759 171 787 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 80.4% 36 $0.440835 0.42% 14.99% $15 820 624 845 ADA 7 days price change
11 TRON (TRX) TRX TRON predictions 79.2% 44 $0.133868 -0.20% 2.14% $11 660 500 653 TRX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 78.8% 37 $0.000019 -2.98% 14.79% $11 047 738 934 SHIB 7 days price change
13 Avalanche (AVAX) AVAX Avalanche predictions 76% 41 $27.63 -2.12% 7.39% $10 907 302 760 AVAX 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 95.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 95.2% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

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

© 2015-2024

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.