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   635

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.
 

AlienVault

North Korean IP-address 175.45.178.19 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. 

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   86

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.
 

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.