Posted on August 25, 2017 at 5:01 PM

Bitcoin Crimes in Korea – Asian Hackers Accused of Crypto-Currency Exchange Attacks

The notorious, government sponsored cybercriminals from North Korea are charged for attacking the Bitcoin systems of the neighboring country – South Korea.

According to various Asian news reports, from a number of news agencies, a number of crypto-currency exchanges for assaulted by hackers from the nearby country. The member of the authorities who accuses the criminals is – Simon Choi, the member of the Koreas Cyber Intelligence Centre. The official stated that e-mails, which contained viruses, were sent to particular enterprises in South Korea. These e-mails stated that they contain important information from the South Korean government. The Cyber Intelligence Centre of South Korea searched for the virus traces, which lead them to North Korea.

Bitcoin – Safe currency?

There are some theories and suggestions of why are cyber criminals attempting to hack Bitcoin systems in South Korea. One is proposed by professor Lim Jong-in, graduate of the Korean school of informational security. He says – “You can hide the identity of the money owner, while keeping the income sources safe”.

The authorities claim that the whole situation of cyber crimes has been going on for years. North Korean hackers are accused of stealing more than 100 million$ worth of Bitcoin, by smalls parts every month. Everything is thought to be done to increase the safe haven capital.

But that is not all.  Simon Choi states that other parts of the financial sector were targeted as well. Financial technology enterprises and various other startups were also targeted by the criminals.

The hacking process began when the criminals located a gap in the South Koreas largest crypto-currency exchange platform – Bithumb. South Korean government has launched a research concerning the platform gap, and offered compensations for the people who suffered financial losses from the gap.