In a statement yesterday, a Korean organization announced that researchers were discovering that North Korea was trying to use CryptoCurrency last year.
South Korea’s state-run Korea Development Bank (KDB) disclosed a research report to the public. The research unit said that North Korea started an effort last year between May and July, as a means of working on international sanctions, including banking and financial sanctions, for bitcoin.
Raporda has also indicated that he has shown particular interest in coins and tokens that anonymously hold the users of the country. The reason for this is that these coins have the best inimitable ways to hide money laundering from other countries.
North Korea does not wake up to Crypto
A fraudulent nation has a long history with crypt money. As CCN reported, the first process in the country goes back to 2014. However, the country maintains a strict secrecy around government operations and its activities with digital currency may go much further.
This latest report confirms that North Korea is still very active while using the cryptographic currency as an alternative funding tool. Since most countries have sanctioned North Korea for its nuclear missile program, the authoritarian government does not have much resources to collect money. However, the raporda seems to have left the country’s mining efforts shortly thereafter.
Interestingly, the report found that the real North Koreans knew nothing about the crypt currency. The latest defenders said they did not hear the crypto currency.
Hacking in Mining?
North Korea is known for its biggest, sophisticated crypto currency exchange hacking. A report from South Korea claimed that North Korea was stealing tens of millions of dollars from a crypto currency exchange. North Korea also suspects the head for the Youbit Exchange hack in December last year.
In the past days, the country did not satisfy the pressure of Trump’s campaign. A meeting between the two countries was canceled due to renewed tensions in the near future. For the foreseeable future, the sanctions seem to have never gone, and North Korea will continue its activity of collecting the crypto currency.