North Korea Breaches Servers in South Korea to Nab Cryptocurrencies

Andariel, a group of hackers hailing from North Korean, breached a server at a firm in South Korea in summer of 2017.

According to the report, the group stole 70 Monero coins which are now valued at roughly $25,000.  The information came from a cybercrime an analysis from the South Korean Government.

The South  Korean government has also accused its neighbor of stealing Bitcoin to be used as its own “economic weapon”.

Lee Dong – Geun, the chief analyst at the Internet Security Center in Seoul, also joined a discussion forum disclosing the changes in the tactics of North Korea.

In one post, he stated that:

“North Korea is now primarily after information for financial ends.”

The report coincides another report that accuses North Korea of turning to crypto coins as a way to fund the government when it was inundated with international sanctions.

This is not the first time North Korea got entangled with issues related to cyber-attacks.

In December 2017, the Trump administration also made harsh statements against the reclusive state and officially accused it of orchestrating the global WannaCry ransomware attack.

Thomas P. Bossert, Trump’s homeland security adviser said that “The [WannaCry] attack was widespread and cost billions, and North Korea is directly responsible.

“The [WannaCry] attack was widespread and cost billions, and North Korea is directly responsible”.

North Korea eventually denied its involvement in the largest cyber extortion in history.

Given the nature of the cryptocurrencies and its increasing popularity, it is expected that cryptojacking will likely to continue to rise.