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

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

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…

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North Korea to Develop Own Cryptocurrency to Battle Sanctions

North Korea to Develop Own Cryptocurrency to Battle Sanctions

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…

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US Treasury Targets Three Notorious North Korean Hacking Groups

US Treasury Targets Three Notorious North Korean Hacking Groups

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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North Korea to Hold Second Blockchain and Cryptocurrency Conference in February 2020

North Korea to Hold Second Blockchain and Cryptocurrency Conference in February 2020

North Korea to hold its 2nd Pyongyang Blockchain and Cryptocurrency Conference in February 2020 as part of a week-long tour, event organizers from the Korean Friendship Association (KFA) have said. After the first Pyongyang Blockchain and Cryptocurrency Conference organized last year (and ultimately occurred in April 2019), this might be the second time when industry experts and visionaries from the globe will meet in the Capital of North Korea. The second blockchain and cryptocurrency event…

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North Korea Vehemently Rebuts Gathering $2 Billion via Crypto Attacks

North Korea Vehemently Rebuts Gathering $2 Billion via Crypto Attacks

North Korea has denied allegations of theft of $2 billion as cited in the United Nations Security Council North Korea sanctions committee. The report claimed that North Korea was using cyber attacks on crypto exchanges and banks to hoard money for its program to produce weapons of mass destruction (WMD). The report says that a total of two billion dollars have been stolen using sophisticated and widespread hacks from across financial institutions around the world….

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Confidential UN Report: North Korea Stole $2 Billion from Banks and Crypto Exchanges

Confidential UN Report: North Korea Stole $2 Billion from Banks and Crypto Exchanges

The government of North Korea has managed to swipe $2 billion from cyberattacks on international financial and crypto organizations, and spent that money on its nuclear program. The news came from a classified UN report prepared by an independent team of experts who presented it last week to the United Nations Security Council’s North Korea Sanctions Committee. The report suggests that the North Korean government spent a large amount of money in support of its…

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New Data Suggests Russian Hackers were Behind Coincheck $530M Crypto Hack

New Data Suggests Russian Hackers were Behind Coincheck $530M Crypto Hack

It’s now thought that Russians were behind one of the biggest crypto heists in history, the crypto exchange Coincheck Inc heist. In January 2018, hackers broke into Coincheck, a popular cryptocurrency exchange, and made off with over $500 million in digital tokens. At the time, Coincheck didn’t reveal any details about how their system was breached, other than to say that it wasn’t an inside job. When asked how such a substantial amount of digital…

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Defense Think Tank: South Asia’s Vulnerable Crypto Sector Is a Sitting Duck for North Korea

Defense Think Tank: South Asia’s Vulnerable Crypto Sector Is a Sitting Duck for North Korea

A new research paper titled “Closing the Crypto Gap: Guidance for Countering North Korean Cryptocurrency Activity in Southeast Asia,” published by the Royal United Services Institute for Defence and Security Studies (RUSI) claims that North Korea is a big threat to the South Asian crypto sector. The North Korean state has long been accused of sponsoring and supporting attacks on the crypto sector, stealing millions of dollars and hurting the community at large. The new…

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Kaspersky Lab: Lazarus Group May be Targeting More Crypto Firms

Kaspersky Lab: Lazarus Group May be Targeting More Crypto Firms

Cybercrime is a longstanding criminal attack that has been plaguing several organizations, institutions, and government agencies across the globe. Tons of cash has been dedicated to fighting off this societal menace eating deep into the global economy. Alas, as more technologies and solutions are being deployed into this fight, the modes and types of cybercrime keep evolving and/or adapting to the changes. Due to this singular factor, fighting off the bad guys seems rather impossible…

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Experts: Ryuk Ransomware was launched by Russian Cybercriminals, not North Korean Hackers

Experts: Ryuk Ransomware was launched by Russian Cybercriminals, not North Korean Hackers

One of the largest media groups based in the United States was a victim of a cyber attack called Ryuk ransomware during the just-concluded Holidays. The attack was attributed to North Korean state hackers because of the 2017 Hermes ransomware attack they conducted as part of a hacking operation in Taiwan. The recent Ryuk ransomware contained some traces of the Hermes ransomware, and as such, it was safe to conclude that the attack was from…

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