North Korean hackers target South Korean crypto exchanges

State-sponsored North Korean hackers target South Korean Bitcoin exchanges
25 August 2017   1600

Radio Free Asia reports that North Korea is continuing extensive attempts to hack into the computer networks of South Korean virtual currency exchanges.

Thus, according to the report, state-sponsored North Korean hackers have been accused of targeting South Korean Bitcoin exchanges with cyberattacks and hacking attempts by a South Korean official. More specifically, at least one or two domestic Bitcoin and digital currency exchanges were the target of an attempted hacking by the country’s neighbours to the north.

The accusation is lead by Simon Choi, an official of South Korea’s Cyber Warfare Intelligence Center (CWIC).

It is not only one or two exchanges where attack attempts have been made. Startups that use blockchain, financial technology sector companies as well as others, may have been the target of hacking emails.

Simon Choi
Official of South Korea’s Cyber Warfare Intelligence Center (CWIC)

According to Choi, the emails would be sent to the employees of targeted firms. Opening the emails and reading its contents would provide an opportunity for attached malware to be planted inside the company's computer network. The emails would often claim the sender represented a government authority, such as South Korea's fair trade commission, other times the emails would include resumes from "job seekers."

As speculated by CWIC, the malicious code attached to the emails was identical to viruses of North Korean origin.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   90

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.


Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.