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Thread: North Korea Going After Bitcoins

  1. #1

    Default North Korea Going After Bitcoins

    North Korea 'hacked crypto-currency exchange in South'

    South Korea's spy agency believes that North Korea is behind hacking attacks on a crypto-currency exchange in the South, sources say.

    At least $7m (5.25m) in digital money was stolen in the hacks - although the money is now said to have ballooned in value to $82.7m.

    The thieves also stole the personal information of some 30,000 people.

    They were trading the virtual currencies Bitcoin and Ethereum on the Bithumb crypto-currency exchange.

    Based on recent trading volumes, Bithumb is South Korea's biggest and one of the five largest in the world.

    Analysts say North Korean hackers may have targeted crypto-currencies in order to evade the financial sanctions imposed as punishment for the North's development of nuclear weapons.

    This attack is said to date back to February, when a Bithumb employee's home PC was targeted - though it was only discovered in June.

    The hackers also demanded a further $5.5m from Bithumb in exchange for deleting traders' personal information, said reports.

    The sources in the spy agency, the National Intelligence Service, similarly suspect the North of being behind the hacking of another exchange, Coinis, in September, South Korean news agency Yonhap says.

    But a further attempt in October was thwarted, reports said.

    Evidence has now been passed to prosecutors.

    At present, virtual currencies are not regulated by South Korea's financial authorities but they are now vowing to toughen up regulation.

    Three days ago the government imposed fines totalling $55,000 on Bithumb over its failure to protect users' information.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

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  3. #2



    Trojan malware attacks by North Korean hackers are attempting to steal Bitcoin

    Researchers at Secureworks say trojan malware is being distributed in phishing emails using the lure of a fake job advert

    A prolific cyber criminal gang with links to North Korea is targeting employees at cryptocurrency firms in a bid to steal bitcoin.

    The spear-phishing attacks are thought to be the work of The Lazarus Group, a hacking operation believed to be associated with North Korea. The cyber operation has previously been linked to high profile attacks, including the WannaCry ransomware outbreak, a $80m Bangladesh cyber bank heist and 2014's Sony Pictures hack.

    Uncovered by Secureworks, the attacks have targeted employees at at least one London-based cryptocurrency company, in what researchers suggest is an attempt to steal bitcoin.

    "Our inference based on previous activity is that this is the goal of the attack, particularly in light of recent reporting from other sources that North Korea has an increased focus on bitcoin and obtaining bitcoin," Rafe Pilling, senior security researcher at Secureworks told ZDNet.

    A single unit of bitcoin is currently worth over $17, 500, making it a valuable target for hackers and cyber criminals.

    Researchers note that North Korea has shown active interest in Bitcoin since at least 2013, with usernames and IP addresses in North Korea regularly linked to research into the cryptocurrency, as well as to criminal and espionage campaigns to acquire it.

    The latest round of cyber attacks targets financial executives of cryptocurrency firms with a phishing email purporting to contain information about a Chief Financial Officer position.

    The message contains a Microsoft Word attachment, which when opened tells the user they need to enable editing in order to see the document. If the user follows the instruction, it allows a hidden malicious macro to undertake the next stage of the attack.
    More at link.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  4. #3


    Bitcoin Mining Market Hacked: $70M Stolen from NiceHash

    Even as the price of bitcoin breaches records, hackers are still targeting the cryptocurrency.

    More than $70 million worth of bitcoin are estimated to have been stolen from NiceHash, according to the Wall Street Journal. NiceHash is a Slovenia-based mining marketplace for people who earn money by selling their computer’s processing power to miners.

    Hackers allegedly stole 4,736 bitcoins from a NiceHash digital wallet. The company has not provided details of the hack, but is investigating the incident.

    In a Facebook post, the company said the hack was “a matter of deep concern.” “In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement, and we are cooperating with them as a matter of urgency,” NiceHash said.

    This is the third hack involving cryptocurrencies in less than a month. Tether, a cryptocurrency that has a one-to-one exchange rate with the U.S. dollar, reported a theft of $31 million of Tether from its treasury wallet during the third week of November. Some $150 million worth of ether was “frozen” in a wallet on Ethereum’s blockchain earlier in November, when a developer attempted to fix a May 2017 hack.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  5. #4


    If anything a testimonial of bitcoin utility

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