Bitcoin Used To Fund North Korea

There have been various reports and accusations of North Korea stealing Bitcoin as a way to fund their regime with the new sanctions placed on them. Many of their targets include South Korean exchanges. It is unclear how much Bitcoin the North has amassed but as the price of Bitcoin rises it will become more lucrative to scammers and cyberthieves to steal it. Bitcoin isn’t the only crypto at risk though; according to CBS, last summer North Korean hackers known as Andariel managed to steal 70 monero coins from a South Korean server. That amount is reported to be worth $25,000. With reports of hacks this large it is no wonder how the Kim regime funds itself and its nuclear program in the face of sanctions.

After new hostilities with the North, many countries at the U.N. pass new sanctions on North Korea. Why don’t they pass all the sanctions they can at one time instead of using this as the only way to counter the North’s aggression? It is doubtful that these sanctions will cause the North to respond any differently nor will it hinder its nuclear program in any significant way with the stolen cryptos funding their programs. The sanctions are merely a way for politicians to show their citizens: we took action! But are their actions effective?

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coinpress21
(21coinpress.com)