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IPFS News Link • Korea/North Korea

Bitcoin hacks are funding North Korea's nuclear missile program...

•, by: Ethan Huff

According to a recent Bloomberg report, an unidentified South Korean lawmaker who wishes to remain anonymous is credited with having nabbed the hacker clan, which may have seized the digital money in an effort to secretly fund the Kim Jong-un regime's ongoing nuclear missile program.

If the intelligence thus far gathered is correct, this same hacker group was likely the culprit in the shutdown of the South Korean cryptocurrency exchange YouBit back in December. This attack followed by a theft reveals just how lacking security is at many crypto exchanges where traders do business.

The CoinCheck breach could also be the straw that breaks the camel's back, as reports indicate that it's probably the largest theft of cryptocurrency to date – exceeding the amount stolen from Mt. Gox back in 2014 that ultimately led to the exchange's failure.

South Korea's National Intelligence Service has begun the task of investigating what happened at CoinCheck, though the timing couldn't be worse seeing as how the Olympic Winter Games in PyeongChang have already begun.