UN discloses detailed report for North Korean hacking activity

Posted 14 August, 2019

The UNO has released detailed version of the  report following the last-week summary of the document saying that North Korea used massive cyber attacks on banks and cryptocurrency exchanges around the world to get funding for mass destruction weapon development.

According to the document, North Korea made 35 hacks of organizations in 17 countries. At the same time, the American experts have already launched their own investigation on this matter.

The new report unveiled that South Korea faced bulk of the hacks with 10 attacks. It is reported that the Bithumb exchange has been hacked at least four times. Bangladesh and Chile suffered two attacks each, while Costa Rica, the Gambia, Guatemala, Kuwait, Liberia, Malaysia, Malta, Nigeria, Poland, Slovenia, South Africa, Tunisia and Vietnam were attacked one time.

The report further describes North Korea’s proposed algorithm of action. It became known that hackers use three methods with low risk and high profitability to obtain illegal income. 

Along with cryptocurrency exchanges, North Korean hackers also targeted the SWIFT messaging network, using computers and the infrastructure of bank employees, through which they can send fraudulent messages and destroy evidence. In particular, hackers managed to seize a network of ATMs and capture 10,000 payments during one of the attacks.

The experts noted that North Korea is mining cryptocurrency via illegal cryptocurrency malware to finance the military’s professional unit.

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14 August, 2019 11:31

← Seed CX announces tests of deliverable bitcoin swaps

The American cryptocurrency trading platform – Seed CX – reportedly launched testing of the physically settled marginal bitcoin swaps.  The exchange from Chicago stated that the swap unit Seed SEF would keep running tests till the end of August. After that, the new product can become available in the US market in case of positive results and green light from the regulator.

Seed CX announces tests of deliverable bitcoin swaps

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14 August, 2019 10:23

Barclays rumoured to cancel partnership with Coinbase →

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Barclays rumoured to cancel partnership with Coinbase
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