N. Korea’s suspected bitcoin hacking monitored by S. Korean gov’t

As bitcoin receives greater recognition with
more derivatives introduced…
North Korea is moving to grab a bite of that
The regime’s hackers are suspected of breaking
into stashes of cryptocurrencies to find new
sources of revenue.
And as our Park Hee-jun tells us…
Seoul’s government is closely monitoring those
South Korea’s unification ministry is keeping
close tabs on North Korea’s bitcoin related
activities… as the crypto-currency is a
new target for Pyongyang’s hacking operations.
“We are aware that North Korea has been engaged
in various activities so far to evade sanctions
and earn foreign currency.”
The increased economic sanctions against North
Korea could be driving the North’s interest
in bitcoin… as its price has soared from
under 1-thousand U.S. dollars at the end of
2016 to more than 18-thousand dollars just
a few days ago.
When asked whether the South Korean government
has detected any concrete signs or evidence
of North Korea getting involved with the crypto-currency…
“We’re monitoring North Korea’s trend related
to bitcoin.”
The unification ministry spokesperson added
that the government was cooperating with the
National Cyber Security Center and other relevant
agencies to prevent North Korea from hacking
into crypto-currencies.
Information security experts said measures
were needed to protect crypto-currency investors.
“Virtual money exchanges should seek better
security protection for their investors and
enhance transparency in crypto-currency trade.”
The expert also advised the government to
form a task force to consider whether to levy
taxes on financial gains from trade in virtual
currencies after a study of foreign cases.
South Korea is home to one of the world’s
largest bitcoin exchanges, with about 1-million
people estimated to own some of the best-known
digital currency.
Park Hee-jun, Arirang News.

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