Bitcoin hacks are funding North Korea’s nuclear missile program; Cryptos now LESS secure than conventional money

Friday, February 16, 2018
By Paul Martin

by: Ethan Huff
Friday, February 16, 2018

The group behind a recent $500 million crypto heist that targeted the Japanese cryptocurrency exchange CoinCheck has been identified as a group of North Korean hackers, new reports indicate.

According to a recent Bloomberg report, an unidentified South Korean lawmaker who wishes to remain anonymous is credited with having nabbed the hacker clan, which may have seized the digital money in an effort to secretly fund the Kim Jong-un regime’s ongoing nuclear missile program.

If the intelligence thus far gathered is correct, this same hacker group was likely the culprit in the shutdown of the South Korean cryptocurrency exchange YouBit back in December. This attack followed by a theft reveals just how lacking security is at many crypto exchanges where traders do business.

The CoinCheck breach could also be the straw that breaks the camel’s back, as reports indicate that it’s probably the largest theft of cryptocurrency to date – exceeding the amount stolen from Mt. Gox back in 2014 that ultimately led to the exchange’s failure.

South Korea’s National Intelligence Service has begun the task of investigating what happened at CoinCheck, though the timing couldn’t be worse seeing as how the Olympic Winter Games in PyeongChang have already begun.

But it’s important to not only track down the culprits and bring justice, but also to figure out a fix to make cryptocurrencies more secure. If North Korea is able to steal enough of them, the money it might gain could end up spelling unspeakable disaster for the rest of the world.

“The North is well-known for its hacking prowess,” explains “NK-linked hackers are suspected of perpetrating some of the most high-profile hacks of the last five years, including the WannaCry and Petya hacks last spring, and the embarrassing 2014 hack of Sony Pictures.”

North Korean hackers may have also installed malware to hijack crypto mining operations

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