Crypto Sea of Red, Korean Regulations

A U.S.-based cybersecurity firm has uncovered malware apparently being used to mine the Monero cryptocurrency and send it to a university in North Korea.

Cyber firm AlienVault released an analysis of the malware on Monday, saying that it installs software on victim computers that instructs them to perform complex computational tasks to "mine" Monero. The mined currency is then sent to a server located at Kim Il Sung University in Pyongyang.

The revelation could point to an effort by those in North Korea to find an alternative stream of revenue as the country finds its economy squeezed by international sanctions imposed over its nuclear and ballistic missile program.

"Crypto-currencies could provide a financial lifeline to a country hit hard by sanctions. Therefore it's not surprising that universities in North Korea have shown a clear interest in cryptocurrencies," AlienVault said Monday.