Assets, Bitcoin

Is North Korea Stealing Bitcoin?

Since the beginning of 2017, North Korea has been accused of stealing Bitcoin in order to fund its nuclear weapons program. While it is impossible to know for sure if North Korea is behind the attacks, there is evidence that suggests they may be responsible.

In February of 2017, a South Korean exchange called Youbit was hacked and lost 17% of its total assets. Youbit was the victim of a similar attack in April, and as a result, filed for bankruptcy.

The attacks on Youbit bear a striking resemblance to the WannaCry ransomware attack that took place in May of 2017. Both attacks used similar methods to steal Bitcoin, and both attacks have been linked to North Korea.

NOTE: WARNING: There is evidence that North Korea has been involved in the theft of Bitcoin and other cryptocurrencies. As such, it is important to take extra precautions when dealing with cryptocurrency in order to protect against potential theft. Make sure to verify the identity of anyone you transact with, and be aware of any suspicious activity that could indicate a potential breach. Additionally, it is important to securely store your cryptocurrency and use two-factor authentication whenever possible.

In September of 2017, another South Korean exchange called Bithumb was hacked and lost over $30 million worth of Bitcoin. The attack on Bithumb was also similar to the WannaCry attack, and North Korea is once again suspected to be behind it.

If North Korea is behind the attacks on Bitcoin exchanges, they are likely doing so in order to fund their nuclear weapons program. North Korea has been under strict economic sanctions from the United States and the United Nations since 2006, and these sanctions have severely limited their ability to generate income.

Stealing Bitcoin is a way for North Korea to get around these sanctions and raise money for their nuclear program.

While we cannot say for certain that North Korea is behind the attacks on Bitcoin exchanges, there is certainly evidence that suggests they may be responsible. If they are behind these attacks, they are likely doing so in order to fund their nuclear weapons program.

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