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   354

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. 

Japanese 'Money Forward' to Launch Crypto Exchange

Money Forward Financial is going to launch a media crypto platform this summer, and afterwards - a digital assets exchange
24 May 2018   63

The operator of the popular application for personal finance management Money Forward Inc intends to launch a cryptocurrency exchange this year, BC Focus reports.

Japanese fintech-company has been working in this direction since December last year. To implement the plans, the company has already registered a subsidiary division called Money Forward Financial.

Money Forward Financial is going to launch a media cryptocurrency platform, and afterwards - a digital assets exchange. In the future, the company plans to create a number of more advanced solutions for working with crypto-currencies, including automated payment systems and various analytical tools.

Currently, the customer base of the company has about 5 million users. The cloud application of Money Forward Inc for tax accounting and financial management is used by 500,000 Japanese companies and 2,400 accounting firms.

Big Japanese financial institutions are making steps to cryptocurrency business. Mitsubishi UFJ Financial Group (MUFG), world's 5th biggest bank has announced plans to introduce own cryptocurrency by 2019.