North Korean Hacking Groups That Attacked Crypto Exchanges End Up Under US Sanctions

Libra Coin News
Fri, 09/13/2019 - 18:38
Alex Dovbnya
The US Treasury sanctions three North Korean hacking groups that were linked to massive cyber attacks on cryptocurrency exchanges
Cover image via www.123rf.com

The US Treasury has imposed sanctions on three North Korean hacking groups (Lazarus Group, Bluenoroff, and Andarial) that were involved in malicious cyber activity. Along with ATMs and banks, cryptocurrency exchanges turned out to be their main target.

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It was revealed that the three groups were controlled by the Reconnaissance General Bureau, which is considered to be DPNK’s equivalent to the CIA.

As reported by U.Today, the authoritarian regime stole a staggering $670 mln worth of fiat and crypto from legitimate businesses. The hermit kingdom used these funds to support its nuclear program that was the reason for imposing international sanctions 15 years ago.

However, Kim Jong-un's authoritarian regime later denied these accusations and blamed Western countries for tarnishing its reputation. Of course, this didn’t sit well with the US, thus putting a dent in the Trump-Kim relationships.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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