NORTH Korea has targeted at least three Bitcoin exchanges in a bid to steal money as the nation struggles under international sanctions, security experts have said
The despotic regime has been hit with numerous sanctions – including additional restrictions imposed by the United Nations on Monday – which have been crippling the economy.
Despite the sanctions, Kim Jong-un has repeatedly ordered his military officials to build more missiles and develop North Korea’s nuclear arsenal amid mounting tensions with the US.
The surge of bitcoin this year, with the value of a single Bitcoin rising from $963 at the beginning of the year to $4,222, has made it a ripe target for cash-strapped North Korea, according to a report by cybersecurity firm FireEye.
One exchange believed to be targeted by North Korea is Bithumb, the South’s largest cryptocurrency company.