Seoul Bitcoin Exchange Hacking

North Korea under Suspect List of Seoul Bitcoin Exchange Hacking


South Korean Investors are digging into all possible involvement of North Korea in the Seoul-based cryptocurrency exchange hacking that crumbled this week, as came to known via a person familiar to this investigation.

The owner of the Bitcoin exchanges Youbit, Yapian; said on Tuesday that it would be closing and entering proceedings of bankruptcy after a cyber attack, which claimed about 17% of its total assets. It was also thrashed by a charge in the month April that local media have been linked to hackers of North Korea.

The Korean Internet and Security Agency and the police investigators are looking into the case as an extension to this April attack, as per said by the person, who requested not to be identified discussing confidential information. Whilst they aren’t eliminating North Korea from the suspect, they are even open to all other probabilities, according the person said on Thursday.

Previously, the Wall Street Journal reported that investigators viewed indicative signs that North Korea was behind the attack of YouTube. Spokesperson for the internet security body of Korea and the police couldn’t be instantly reached for any comments.

The Youbit’s attack is “in alignment” with the current focus on the on cyber army on crypto currencies and their exchanges of the North Korea,  as said by Luke McNamara, who is a senior analyst at the FireEye Inc, a research agency on cyber security.

North Korea has been increasingly masterly at breaking into computer systems across the world for strategic benefit ad financial gains. This year the cyber warriors of regime has been linked in stealing U.S.; military plans of South Korea and the supposed theft from the Taiwan Bank of $60 million.

Though North Korea permits access to the internet to only a small amount of its total population, however, t started training it techno soldiers back in 1990s, as per the Defense Command of South Korea.

The most common path in targeting computer networks is through spears phishing, where the digital currency exchanges employees are made a target with emails having malware that gets activated once the attachments are opened, as per FireEye.