12 Sep '17, 4pm

North Korea Has Found A Way Around Sanctions: Steal Bitcoin

Beset by international sanctions, the North Korean government has begun hacking into cryptocurrency exchanges to steal bitcoins, researchers say. At least three South Korean bitcoin exchanges have been targeted by North Korean military hackers in 2017, according to a report from the cybersecurity firm FireEye. Major cryptocurrencies have surged in value in 2017, with the value of a single bitcoin rising from $963 at the beginning of the year to $4,222, and Ethereum jumping from $8 to $299. That makes them a ripe target for theft, said Luke McNamara, a FireEye senior analyst. “I see there being two macro drivers of this threat activity,” McNamara told BuzzFeed News. The first is the tightening sanctions on North Korea's economy, he said. “But you also have cryptocurrencies appreciating significantly since the beginning of the year. So you see cryptocurrency exchanges, parti...

Full article: https://www.buzzfeed.com/kevincollier/north-korea-has-fou...

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