Bitcoin exchanges and blockchain companies of South Korea are in unleashing cyber attack sanctioned by North Korea.
A United Press International Media Article stated that hackers are targeting blockchain and Bitcoin companies of South Korea.
The Cyber Warfare Research Center (CWIC) in South Korea elaborated that the worldwide cryptocurrency and digital payment system are under cyber attack. The unleashing cyber attack is targeting South Korean financial technology institutions and other small business firms that use Bitcoin as their financial tool.
Hackers have been targeting employee emails of businesses, to infiltrate into companies systems and steal funds. These attacks are possibly the result of economic sanctions against North Korea, stated by a South Korean Media. Hackers are pretending themselves as employees of the institution or government authorities to get access to the companies data.
According to the South Korean Media,”There is not one or two exchanges where the attack was attempted. It seems that there is an all-round hacking attempt on the exchange in South Korea. And it seems to be sending (email for North Korea hacking) to find objects such as start-up, pin-tec, etc. dealing with the block chain”.
A South Korean digital currency experts said that infiltration activities are currently occurring because users can hide crypto transactions more easily.
Sanctions May be the Cause of the Attack.
Several experts and media are reporting that the hacking attempts are made due to sanction against North Korea. A Bitcoin transaction is untraceable as this may help North Korea to disregard economic sanction as nobody can trace the root of transactions and from where it was made.
Bitcoin is rising to the ceiling. It has exceeded $ 4,000 per beat. And Bitcoin is the best way to remake their economy. For North Korea, it’s a mean of foreign currency earning.
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