North Korea hacks cryptocurrency in desperate bid to raise funds for nuclear war

Friday, January 5, 2018
By Paul Martin

NORTH Korea is resorting to ever more devious ways of raising capital as UN sanction start to put insurmountable pressure on the rogue state.

Fri, Jan 5, 2018

And a plot has been uncovered of an attempt to have a South Korean company to mine Monero (XMR).

Monero, unlike bitcoin, does not use a public ledger saying where every coin is, allowing users a greater degree of anonymity.

But this makes the digital currency more attractive to hacking groups who wish to steal the cryptocurrency.

The North Korea hacking group, called Andariel, were able to penetrate a server at a South Korean company last summer. They used the leftover energy after the hack to mine monero without the company noticing.

They were able to mine 70 Monero coins, stealing around $25,000.

Monero is a particularly popular cryptocurrency in Asian countries.

Kwak Kyoung-ju, the head of a cybersecurity analysis group at the South Korean government-backed Financial Security Institute, said Andariel is “going after anything that generates cash these days”.

Still, it is unknown at the time if Andariel has compromised any other servers.

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