N. Korea stores crypto at Pyongyang University server

N. Korean hidden mining software sends the crypto currency to the server of the Kim Il Sung University in Pyongyang
09 January 2018   473

American cyber security company AlienVault discovered software for hidden mining, sending the cryptocurrency to the server of the Kim Il Sung University in Pyongyang. This is written by Reuters.

According to the agency, the program was invented in late December in one of the capital's universities in North Korea and is designed to provide the country with new channels of currency inflow.

Crypto-currencies may provide a financial lifeline to a country hit hard by sanctions, and as a result universities in Pyongyang have shown a clear interest in cryptocurrencies, may be the most recent product of their endeavours.


North Korean IP-address was repeatedly seen in trading operations with crypto currency. Previously, it was spotted in cyberattacks against the South Korean authorities in 2014-2015.

However, the company emphasizes that the North Korean server that used the software for mining was not connected to the global network, that is, it could deliberately mislead an outside observer about the existence of "North Korean ties".

Kim Il Sung University, however, plays host to foreign students and lecturers, not just North Koreans. The university administration and representatives of the DPRK in the US have not yet commented on this situation. 

SEC to Cease Simex Securitites Trading

As reported, under the federal securities laws the SEC can suspend trading in a stock for 10 days
23 October 2018   41

The US Securities and Exchange Commission (SEC) suspended trading in securities of the American Retail Group (OTC: ARGB), also known as Simex, Inc. This is reported on the website of the agency.

According to representatives of the regulator, the decision was caused by false statements by the company about partnership with a “qualified and approved custodian”. The company also conducted an ICO, which allegedly "officially registered in accordance with the requirements of the SEC."

The SEC does not endorse or qualify custodians for cryptocurrency, and investors should use vigilance when considering an investment in an initial coin offering.

Robert A. Cohen

Chief, SEC Enforcement Division’s Cyber Unit

As reported, the SEC can suspend trading in a stock for 10 days and generally prohibit a broker-dealer from soliciting investors to buy or sell the stock again until certain reporting requirements are met.

Also earlier this month, the American regulator recommended investors to "be vigilant when considering the possibility of investing in the ICO."