South Korea Accuses North Korea of Stealing Billions in Crypto

The amount of funds stolen by North Korea state-sponsored hackers is estimated at billions of won in cryptocurrency
05 February 2018   701

South Korea accused  North Korea of stealing its cryptocurrency last year. Moreover, hackers are still trying to hack its exchanges.

The hackers carried out a phishing attack sending out emails that capture customers information. Usually such emails contain malicious links or attached documents with malware payloads created for stealing private information.

According to Kim Byung-kee, a member of South Korea’s parliamentary intelligence committee, North Korea is still trying to hack crypto exchanges. The names of the exchanges are not stated. Nevertheless, South Korea is doing its best to prevent further hacking.

Considering that the government of South Korea strives to provide security for the customers’ data, it’s also worth mentioning that in January it introduced new policies related to privacy.

According to experts, the stolen cryptocurrencies could be used by North Korea to strengthen its economy, though the exact cryptocurrency was not disclosed.

Mt. Gox Trustee Can Sell 2000 BTC Soon

Possible sale of such a large batch can lead to a further fall of the bitcoin price
26 April 2018   167

Head of the Board of Trustees of MtGox, Nobuaki Kobayashi, is probably preparing to sell a new batch of bitcoins, this time at a rate of 2,000 BTC.

This assumption was made by the bitcoin-investor and the head of the Altana Digital Currency Fund, Alistair Milne. In support of his words, he brought to Twitter a link to the trustee's MtGox address.

Alistair Milne Twitter
Alistair Milne Twitter

Apparently, on the morning of Thursday, April 26, from the address indicated, 2,000 were transferred to another address. Some of the funds that were there before (8,000 BTC) were almost immediately expended.

Possible simultaneous sale of such a large batch can lead to a further drawdown of the bitcoin price.

Bitcoin Price Chart
Bitcoin Price Chart

Trading on Wednesday evening at around $ 9,000, on the night of Thursday, the first crypto currency continued the decline started yesterday, dropping at a certain point to $ 8,650. At the time of publication, however, there has been a slight increase - according to Coinmarketcap, the weighted average bitcoine rate at that time is $ 8 790.