According bitcoin.com reported that North Korea plans to hold a seminar devoted block chain technology and encryption currency. The meeting scheduled on October is expected to invite experts from around the world to meet with representatives from North Korean companies.
North Korea’s first international cryptocurrency event?
In the field of cryptocurrency, North Korea’s reputation has not always been good. According to the Yonhap News Agency, North Korea plans to hold a cryptocurrency and blockchain conference in the capital Pyongyang in October this year. The two-day conference will begin on October 1.
An anonymous security expert said that North Korea seems to want to demonstrate its capabilities in cutting-edge technologies such as cryptocurrency and blockchain through this conference.
Recently, North Korea has once again been accused for exploiting security vulnerabilities and obtaining cryptocurrencies through illegal means. Lazarus Group, a cybercrime group associated with North Korea, used a new type of malware to infect multiple operating systems.
Researchers at cybersecurity company, Kaspersky pointed out that North Korea’s hackers recently launched an operation called “Applejeus”, using a Trojan called Fallchill. The software that steals cryptocurrencies was discovered after invading an IT system on a cryptocurrency exchange in Asia.
The attack was triggered by an employee of the exchange downloading a cryptocurrency trading app with a virus from a seemingly normal website. Experts have found that the Fallchill Trojan has been redesigned to not only target Windows systems, but even macOS and Linux devices.
North Korea’s ambition
This is not the first time North Korea has been accused of stealing cryptocurrencies. In March of this year, former National Security Agency (NSA) officials and Asia Pacific cybersecurity expert Priscilla Moriuchi said that North Korea received at least 11,000 bitcoins (BTC) in 2017 through mining and hacking. The estimated value at that time was more than $200 million.
Last year Lazarus Group was suspected of being involved in an attack on South Korean cryptocurrency transactions. According to South Korean intelligence agencies, North Korean hackers have been involved in the cyberattack of Bithumb, South Korea’s largest crypto exchange, stealing more than 30,000 user profiles.
Because of international sanctions, North Korea is unable to connect with the world financial system, so it has been trying to use cryptocurrencies to break restrictions and anonymous transactions. Pyongyang University has opened a cryptocurrency course to prove North Korea’s development in this area.