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
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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.

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