North Korea is Warning the Cryptocurrency World to Fuel World War 3 Threat

Nishanth Shetty

Nishanth Shetty

January 3, 2018 6:59 am

North Korea is Warning the Cryptocurrency World to Fuel World War 3 Threat | Coindelite News
3008 Total Views

Cryptocurrency News

Bitcoin has got a 1,514  percent growth in value in 2017, through trading at $960 in January 2017 and currently worth $15,000, according to Coindelite’s Price Chart.

North Korea has been worried under the economic uncertainty after the United Nations unleashed a series of new sanctions for clamping down the fears of World War 3, following ignored calls to end Pyongyang’s nuclear development programme.

The cryptocurrency investors have recommended North Korea can use bitcoin to support weapons development programme since the cash flow to the nation was the cut-off.

Bloomberg’s Asia Technology editor Edwin Chan told bitcoin’s digital environment made the cryptocurrency “more easily laundered,” hence helping North Korea store hard cash to fuel its weapons programme.

Mr. Chan said:

“Cryptocurrencies are more easily laundered. And also the North Koreans are increasingly using third-party service systems to do the mining for them and the reason for doing that is because it’s an expensive process. North Koreans have been linked to attacks on cryptocurrency exchanges. We understand they do mining of their own but North Korea denies all such reports. However, Pyongyang needs high currency to fund its nuclear weapons development programme, allegedly.

But cybersecurity expert Luke McNamara told his company had noticed hackers previously linked to spying activities for the North Korean government take a sudden interest in bitcoin early in the year.

Mr. McNamara told:

“The fact that it has appreciated so much in value this year means that it’s attracting a lot of interest from various cybercriminals. We have noticed North Korean hackers actually pivot to start going after places like cryptocurrency exchanges in South Korea.”

Officials in Seoul say they are keeping tags on the North Korea’s bitcoin-related activities, which investors’ warnings are being used to undermine international sanctions.

North Korea leader Kim Jong-un has warned saying, “nuclear button is always on my desk” as he threatened the US during his New Year’s address in Pyongyang.

But he also arrived to increase an olive branch to neighboring Seoul, recommending Pyongyang could ultimately send a team to the Winter Olympics scheduled to take place in Pyeongchang in February 2018.

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Swiss – FINMA Regulate ICOs and Publish Guidelines

Guidelines Published by the Swiss Financial Market Supervisory Authority for ICO Organizers. The Swiss Financial Market Supervisory Authority (FINMA) has published a press release regarding how it plans to apply financial market legislation in handling queries from the ICO organizers. The post also describes the information FINMA requires for dealing …

Spain to Become Next Cryptocurrency Hub After Swiss

Spain is going to Legalize Cryptocurrency after Swiss Recently Rolled out Guidelines for ICOs While other European countries attempt stricter regulations on cryptocurrencies, Spain seems to be following Switzerland’s initiative ahead by proposing crypto-friendly legislation. Spain on the Blockchain Spanish Prime Minister Mariano Rajoy’s People’s Party is all set to …

Indian Investors Forced to Buy Cryptos Abroad; as the Govt. Pull Strings

Cryptocurrency Regulations Tightened in India; People are looking to Buy Cryptocurrencies Abroad. Since cryptocurrency regulations are becoming more efficient in India, a new trend has begun in the country by acquiring cryptocurrencies from overseas, either from relatives, friends or with abroad accounts. Increased Regulations Indians are looking forward to buying …

-->

Pin It on Pinterest

Shares
Share This