UN-paper: North Korea steals Bitcoin & co. to circumvent economic sanctions

the North Korea uses Bitcoin & co. in order to circumvent the economic sanctions against the country. This is evident from the paper, an expert panel of the world security Council. The paper confirms existing presumptions.

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11. March 2019BTC$3,862 K,56 -1.21%part Facebook Twitter LinkedIn xing mail

The crypto-Narrative of limitless money benefits not only the oppressed but also the oppressors. This allows a report to be interpreted, according to the North Korean crypto-currencies will systematically used to circumvent sanctions from abroad. This is a panel of experts from the world security Council, shall notify and thus confirms the assumption of two analysts from the United States.

the government in Pyongyang, in a systematic cyber-attacks against Bitcoin exchanges: foreign currency and crypto-Assets with a total value of about 670 million US dollars to North Korean hackers have already captured.

As the news site Nikkei reported, ask the authors of the paper, the UN member States-is one which, by the way of North Korea – measures against cyber attacks. So, States should implement "a robust exchange of information about cyber-attacks from the Democratic people's Republic of North Korea".

Bitcoin against sanctions

The Hacking attacks against Exchanges Pyongyang to economic uses to circumvent sanctions against the country. Because in the Wake of increased nuclear Tests on the Korean Peninsula decided by the UN security Council, a whole bunch of sanctions against North Korea. Digital currencies are, however, a suitable means to circumvent this, the report says:

crypto-currencies make North Korea more opportunities to circumvent sanctions, as they are harder to track and can be washed. In addition, they are independent of government rules and regulations.

Between January 2017 and September 2018, of stealing Hacker crypto-Assets with a total value of about 571 million from the Asian crypto-Exchanges. Like BTC-ECHO reported, plays all the Pyongyang-based Hacker group Lazarus a crucial role.

The group is known to operate in the course of its cyber attacks against the Bitcoin exchanges some effort. So, the group succeeded in 2018, almost, to infiltrate a number of Asian Exchanges, by strewing in a laborious process, a fully functional Trading Tool. To conceal the activities of the hackers formed a special kind of AIO front-company called Celas LLC. The Coup failed, however, in the last instance, to the security infrastructure of crypto-exchanges.

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