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   494

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.

First real-life cryptocurrency robbery reported in Taiwan

Four men stole 5 million Taiwanese dollar worth of Bitcoin, the police has already arrested the suspects
22 February 2018   52

Bitcoin has attracted lots of unwanted attention from hackers and scammers alike. Recently not a week passes without news of an exchange or user being hacked or some company's computers being hijacked to mine cryptocurrency. And now Taiwanese news outlets report first real-life robbery of Bitcoin in their country.

The robbery took place in Taichung, Taiwan's central city. The police reports three men being involved in the robbery itself and one as a planner. Criminals persuaded the victim to meet with them face-to-face under the guise of being interested in buying Bitcoin from him. After the victim showed the robbers the proof of his bitcoins on his phone, the men attacked him and his friend and transferred 18 bitcoins worth 5 million Taiwanese dollar via the phone wallet.

The suspects then forced the unfortunate seller to drink strong local liquor to make everything look like a drunken fight had taken place. The police arrived at the scene after receiving the reports of a fight and found two victims. Two of the offenders had fled, but the third has been arrested at the scene of the crime. He later provided investigation with information about his accomplices. They were arrested soon after.

The police later apprehended the man believed to be the mastermind behind the plan. All this was released in the yesterday's report by the Taiwanese law enforcement and the case is already viewed as “the first domestic case of bitcoin robbery”. The report doesn't mention if the crypto was returned to the rightful owner.

Similar cases has been rumored to happen in the US, but no records are released as of yet. So the unofficial governmental advice is to be more cautious of the buyers requesting face to face meetings in the light of this event.