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Why North Korea is Robbing Cryptocurrencies with Cyberattacks

The Japanese Intelligence Agency is making claims that North Korean hackers are the ones behind the heist of $530 million in cryptocurrencies from Coincheck. This heist took place last month when the hackers infiltrated the Japanese based crypto exchange platform and stole half a billion.

We should mention that this is not the first time governments pointed their fingers at North Korea for cyberattacks since the US also publicly blamed North Korea for a major cyber-attack.

The US Blames North Korea for Cyberattacks

The first government to publicly blame North Korea for cyberattacks was the US. This happened in December when the US made it official that North Korea is the one who created the “WannaCry” malware that targeted banks, hospital and large companies. This malware managed to infect over 230,000 computers spread through 150 countries.

North Korea Cyberwarfare Agency

All the world’s governments are paying close attention to North Korea since Pyongyang doesn’t hide away its nuclear ambitions. However, what most people don’t know about North Korea is that it has a cyberwarfare agency that’s being used for military espionage and attacks on international banks. This is the team who is believed to be behind the $530 million heist.

No Proof

Unfortunately, the allegations made by the Japanese Intelligence Agency are based is speculations. The Agency told lawmakers that North Korea is the most likely country to be involved with this heist, but that it doesn’t have any proof.

Why North Korea is Robbing Cryptocurrencies

The reason why North Korea is robbing cryptocurrencies is because it uses them to introduce cash into the country’s falling economy. Not only that, but North Korea is also using cryptocurrencies because they are easier to trade in exchange for illicit goods such as weapons, drugs, oil and so on.

The post Why North Korea is Robbing Cryptocurrencies with Cyberattacks appeared first on News4C.



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