South Korea Blames North For Stealing Cryptocurrency Worth Billions of Won in 2017

2 years ago admin Comments Off on South Korea Blames North For Stealing Cryptocurrency Worth Billions of Won in 2017
South Korea said on Monday that North Korea last year stole cryptocurrency from the South worth billions of won and that it was still trying to hack into its exchanges.

“North Korea sent emails that could hack into cryptocurrency exchanges and their customers’ private information and stole (cryptocurrency) worth billions of won,” said Kim Byung-kee, a member of South Korea’s parliamentary intelligence committee.

Kim did not disclose which exchanges were hacked.

He added that the country’s spy agency assumed that North Korea was continuously trying to hack into exchanges to steal cryptocurrency and that it was trying its best to prevent further hacking.

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In addition to this, the country had just last week uncovered illegal cryptocurrency foreign exchange trading worth nearly $600 million. The country’s customs service had said in a statement on Wednesday that about 637.5 billion won ($596.02 million) worth of foreign exchange crimes were detected.

Illegal foreign currency trading of 472.3 billion formed the bulk of the cryptocurrency crimes, Customs said, but gave no details on what action authorities were taking against the rule breaches.

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