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Attendees of North Korea’s Crypto Conference Might Violate Sanctions

Posted on January 16, 2020January 16, 2020 by Julie Williams

It is no news that the Democratic People’s Republic of Korea (DPRK), or simply North Korea, has been on the wrong side of the United Nations (UN) and the free world at large. Stemming from that, some sanction experts with the UN have made it clear that attending any conference in North Korea, including the upcoming crypto conference, is considered criminal. Therefore, attendees will be penalized for it. All hell broke loose in August when…

Judge Grants Crypto Expert Virgil Griffith $1M Bail in North Korea Case

Posted on January 1, 2020January 1, 2020 by Rehan Yousaf

Virgil Griffith, a tech expert who was arrested last month for travelling to a cryptocurrency conference in North Korea and allegedly provided sensitive information regarding the technology to the country, has been granted $1 million bail and is expected to be released shortly from jail. Griffith had initially been denied bail on December 26th and then appealed for a release on bail on December 30th. The appeal proceedings were covered on Twitter by Inner City…

macOS Malware of North Korean Lazarus Group Detected on Crypto Platform

Posted on December 5, 2019December 5, 2019 by Rehan Yousaf

A new macOS malware has surfaced recently, with low threat detection rate, that digital security researchers think is allegedly created by the Lazarus Group, a cybercrime group based in North Korea with a long history of crypto hacking. The malware was disguised on a cryptocurrency trading platform website called ‘unioncrypto.vip’ and was discovered by researchers before any major damage was done. The malware is capable of regaining a payload from an isolated storage space and…

Sources: Virgil Griffith Wanted to Ship Ethereum Mining Equipment to North Korea

Posted on December 4, 2019December 4, 2019 by Rehan Yousaf

Virgil Griffith, a US citizen, a programmer and a cryptocurrency expert, was arrested last week on the grounds of aiding North Korea in violating international sanctions placed on the country. Now, new report indicates that he had previously told his peers about his plans to arrange a shipment of crypto mining equipment into North Korea to create new Ethereum (ETH)trade coins. According to close sources to Griffith, the 36-year-old Ethereum Foundation employee was working on…

Ethereum Founder Vitalik Buterin: Free Programmer Virgil Griffith!

Posted on December 3, 2019December 3, 2019 by Rehan Yousaf

On December 1st, Vitalik Buterin, co-founder of the second-largest cryptocurrency Ethereum (ETH)trade and Bitcoin magazine, tweeted a link to a blog post that promotes a petition to free the programmer Virgil Griffith, who is accused of assisting North Korea bypass U.S.-imposed sanctions. In the tweet, Buterin states that he believes throwing Griffith under the bus would be wrong, and he further elaborates his reasoning for doing so. Buterin begins defending Griffith by stating that he…

US Citizen Accused of Helping North Korea to Evade Sanctions with Crypto

Posted on December 2, 2019December 2, 2019 by Rehan Yousaf

Virgil Griffith, a US citizen and a programmer, has been accused of violating International Emergency Economic Powers Act (“IEEPA”). The accusation comes after Virgil allegedly traveled to North Korea to deliver a presentation about how the country can use cryptocurrency and blockchain technology to move around all the sanctions that have been imposed on the country. He was arrested in LA International Airport. The US Attorney for the Southern District of New York, Geoffrey S….

Harvard Simulation: Hostile Nation Obtains Huge Sums in Cryptocurrency

Posted on November 24, 2019November 25, 2019 by Rehan Yousaf

The Harvard Gazette reported a simulation at the university’s Kennedy School that was set up to explore the dangers of hostile nations receiving large sums in cryptocurrency in secret. In the exercise, a futuristic timeline was set for the year 2021 in which North Korea had just experimented with a test missile which was powerful enough to deliver nuclear warheads to the United States. An emergency crisis was created as Washington was surprised that the…

The UN: North Korea Laundered Money via Hong Kong-Based Blockchain Company

Posted on November 7, 2019November 7, 2019 by Ravi Rd

The United Nations is accusing North Korea of using a blockchain firm in Hong Kong to carry out money laundering schemes and other illicit activities. The English version of the Korean news outlet Chosun reported that the UN Security Council’s Sanctions Committee has initiate the investigation on North Korea regarding the issue. North Korea has a proven history of cyber attacks and home-grown hackers. The country has about 200 groups of hackers overseas and the…

North Korea to Develop Own Cryptocurrency to Battle Sanctions

Posted on September 22, 2019September 22, 2019 by Rehan Yousaf

According to a recent report, North Korea has started working on creating its own cryptocurrency in an attempt to emerge out of the setbacks imposed on the dictatorial state by international sanctions. Previously, Pyongyang had shown curiosity over digital transactions and has now assembled a team of national professionals joining global companies to build its blockchain and cryptocurrency event. The conference will be held in April in the Democratic People’s Republic of Korea (DPRK) and…

US Treasury Targets Three Notorious North Korean Hacking Groups

Posted on September 16, 2019December 11, 2019 by Rehan Yousaf

According to a press release published on September 13th, the U.S. Department Of The Treasury is sanctioning three North Korean state-sponsored malicious cyber groups, known by the names of Andariel, the Lazarus Group and Bluenoroff. All have targeted and employed cryptocurrency for their nefarious purposes. In a statement released by the department, the Treasury’s Under Secretary for Terrorism and Financial intelligence Sigal Mandelker commented: “Treasury is taking action against North Korean hacking groups that have…

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