Police Reports Confirms That Bitcoin Exchanges in South Korea were attacked by North Korea

North Korea, who finds itself always at the center of controversies, has been recently accused of cybercrime for invading the South Korean Bitcoin exchanges and siphoning millions of won back to the country.

KryptoMoney.com reported earlier in the month of September that North Korean hackers attacked Bitcoin Exchanges in South Korea.

As per the latest reports published by the National Police Agency of the Republic of Korea (South Korea), it has been confirmed that hacker from other side of the border have been targeting the local South Korean Bitcoin Exchanges with multiple attempts to steal the cryptocurrency. A latest report by FirmEye – a cybersecurity firm – has pointed that such hacking attempts were state-sponsored by North Korea.

North Korea, who has been charged with several sanctions from several countries and the UN, in wake of its increasing nuclear ambitions, is finding it difficult to keep up with creating more cash and is resorting to such fishy activities of stealing digital currencies.

FirmEye writes :

“State-sponsored actors [are] seeking to steal bitcoin and other virtual currencies as a means of evading sanctions and obtaining hard currencies to fund the regime.”

Also Read: Is OKEx, The Chinese Bitcoin Exchange Hacked?

 The south Korean police authorities have confirmed that since July, there have been more than 10 phishing attempts in order to deceive targets and gather information regarding the login credentials of over 25 employees across Four bitcoin exchanges. All the phishing emails has arrived from North Korean IP addresses. The police has also confirmed that such malicious attacks from North Korea proved to be unsuccessful with no computing casualties reported.

It seems that Police department of South Korea is staying quite active to immediately ground any such attacks especially after the noteworthy breach and hack of Bithumb wherein personal data of nearly 31000 people was said to be leaked alleging a theft worth “hundreds of millions of won”.

In late August, North Korea fired a test missile over Japan. This resulted in Bitcoin prices skyrocketing whereas the major Stock Indices in Asian region fell as it caused a panic amongst the investors. Bitcoin is now considered to be a somewhat Safe haven asset and hence, it’s price shooted up because of the rise in demand during the panic time

Get latest Bitcoin & Cryoptocurrency News


Subscribe to our newsletters to get latest Bitcoin and Cryptocurrency news.

Thank you !

Pin It on Pinterest

Share This