What is cryptocurrency really good for? Let’s ask the North Koreans.
Raising funds from criminal activities and evading sanctions are two of North Korea’s most significant uses of crypto, according to the recently published report Closing the Crypto Gap: Guidance for Countering North Korean Cryptocurrency Activity in Southeast Asia from the Royal United Services Institute for Defence and Security Studies (RUSI), a non-profit British think tank.
According to this report, “pressure from international sanctions has led North Korea to pursue complex evasion techniques, which increasingly rely on sophisticated cybercrime operations.”
In fact, the North Koreans were behind the recent highly publicized WannaCry ransomware attack – an attack that explicitly seeks to extort crypto. WannaCry “caused widespread disruption and signalled North Korea’s desire and ability to sponsor cryptocurrency-enabled cybercrime,” according to the RUSI report.
North Korea’s crypto-based cybercrime doesn’t stop with WannaCry. “Recently, North Korea has expanded its cybercrime tactics to include exploitation of the global cryptocurrency infrastructure, which sits outside the more established banking sector,” the report continues.
Read the entire article at https://dailyiconews.com/crypto-skepticism-of-the-week/who-loves-crypto-north-korea-thats-who/jason-bloomberg/2019/04/26/.
None of the companies mentioned in this article are Intellyx customers. Jason Bloomberg neither owns, nor plans to own, any cryptocurrency or other cryptotoken, either long or short.
