North Korea is one of the world’s most hostile nations. But whether you consider them so or not, they’re also constantly busy with their nation’s cyber army. Earlier this month it was revealed by Reuters that South Korea estimates that North Korea has pilfered nearly $2-billion in cryptocurrencies, including bitcoin and Ethereum.

Do your thoughts on North Korea allegedly being behind the hack!

Whenever you look at the news you see some new cryptocurrency hack. This is not a very good sign for the industry in general. Bitcoin, Ethereum, and even Dogecoin have been hit by hackers.

I would like to know your thoughts on this situation. I do believe that there is no 100% effective way to protect your money from hackers.

But, we need to make sure that we are well informed about the possible risks of losing our money. The only way to do it is to be aware of recent news about security breaches and apply that knowledge in our daily use of cryptocurrencies.

How are cryptocurrency exchanges like Binance, Coinbase, and other exchanges affected by this type of hacking?

Exchanges are a treasure trove for hackers. Not only do they hold hundreds of millions of dollars in cryptocurrency, but they also have users’ personal information.

That’s why we’ve seen so many hacks against these exchanges over the last few years. There have been at least 25 major attacks against exchanges just since 2011.

The most recent attack comes from Bithumb, the world’s sixth-largest exchange by trading volume. Hackers stole $30 million worth of Ethereum in an attack that occurred earlier this month. It was Bithumb’s second hack in less than a year: the first attack cost the exchange $17 million in cryptocurrency.

So how are these attacks possible? And how can they be prevented?

Have you ever been a victim of cybercrime?

A new survey has revealed that an alarming amount of UK adults have fallen victim to cyber-crime.

The research, commissioned by mobile payments platform Huawei Pay and conducted by Censuswide, found that 55% of UK adults have been victims of cyber-crime. The most common type of incident was fraudulent financial transactions (21%), followed by malware infection and computer viruses (17%).

This means that there are more than 29 million victims of cyber-crime in the UK every year and the numbers are only growing. Despite this, over half (52%) of those questioned said they had never been trained in how to prevent cyber-attacks. For small businesses in particular, which are already vulnerable to attacks, this lack of training is a major cause for concern.

Part of the reason why cyber-crime has been on the increase is that it’s now easier than ever to get started. An aspiring hacker can simply download a few tools and scripts from the internet and start their Trojan botnet or take over an existing one, which they can then use to infect computers and make money.

How many people have been affected by cyber-crime?

According to a recent study, nearly 60% of all UK businesses were victims of some kind of cyber-attack in 2017, with an average cost of £9,260 per incident. The most common forms of crime included ransomware, phishing scams, and denial-of-service attacks.

What is being done to stop cyber-crime?

The UK government is taking steps to improve online security by spending £1.9 billion over five years on cybersecurity research and development (R&D). It also plans to invest £265 million in innovative technology projects, including £22 million for blockchain research.

How do you feel about North Korea’s cyber army?

North Korea has a large cyber army, and it’s been the subject of much speculation over the past few years. In 2017, the country targeted bitcoin businesses with ransomware attacks, to earn capital.

However, that same year, a cybersecurity researcher claimed that North Korea had been mining bitcoins for several years. Kim Jong Un’s regime attempted to avoid detection by using university servers and IP addresses from other countries.

In 2018, as many as 80 percent of South Korea’s bitcoin exchanges were hacked. The blame was attributed to North Korean hackers who used spear-phishing techniques to gain access to users’ accounts and personal information.

What do you think about North Korea hacking into cryptocurrencies?

What could have been a great opportunity to make money through cryptocurrencies has turned into a nightmare for many people.

The cryptocurrency market, despite being in its infancy, is growing at an exponential rate. It was valued at $17 billion in January 2017, and now it has managed to reach the $600 billion mark. But what exactly is the reason behind this astronomical growth?

North Korea has been looking for ways to make money since the United Nations imposed strict economic sanctions against it. When the Bitcoin community discovered that North Korean hackers were trying to steal cryptocurrencies, they tried to take measures to prevent such attacks.

According to a report by FireEye, North Korea has been targeting South Korean cryptocurrency exchanges and high-profile individuals involved in cryptocurrencies since January 2017. These hackers stole bitcoins from online wallets and launched ransomware attacks on organizations across the globe.

South Korea is one of the countries where cryptocurrency trading is legal, and people are enthusiastically trading with digital currencies like Bitcoin and Ethereum. As such, it is a very attractive destination for hackers from North Korea.

The South Korean government has recently announced that it will impose new regulations on cryptocurrency exchanges. These regulations aim to prevent money laundering and tax evasion through cryptocurrencies.

What are your thoughts on North Korea? Do you feel like they’re a hostile nation?

We don’t have a lot to go on here because North Korea has been so isolated since the end of the Korean War. However, if I had to guess, I’d say that they’re probably not hostile.

They are likely interested in doing research and development into crypto technology, just as every other nation is, but they’re not going to be able to find talented workers if they’re as isolated as they are.

I think we’ll see that North Korea is interested in being part of the global community and that we will be able to work out any differences we have with them in the future.

I’m optimistic about this situation because it’s one of the few times in recent history where there’s been an issue that can be resolved without violence.

Thank You For Reading

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