21.36.18 South Korean Intelligence Service Warns Crypto Exchange Threats to Cyber Crime | |
South Korea's National Intelligence Service (NIS) has started warning the country's major cryptocurrency exchange about hacking attempts as threats of this kind are on the rise. Upbit, Bithumb, Korbit and Coinone, the four leading crypto trading platforms in South Korea, have been granted real-time access to available information about online security threats. The intelligence agency detailed that the data displayed Internet Protocol (IP) addresses associated with the hacking attack. Cyber threats are being identified in both the public and private sectors, the NIS noted, they are directly related to the national security of the Republic of Korea. The service emphasizes the importance of addressing these threats. "In the future, we plan to provide and share more specialized information, including the latest malicious code and hacking methods related to virtual assets," the NIS said, quoted from Bitcoin.com, Wednesday (27/4/2022). Cryptocurrency exchanges, along with financial institutions, have become prime targets for hackers allegedly controlled by North Korea. According to a UN report produced by an independent sanctions monitor and submitted to the Security Council in early February, cyberattacks on coin trading platforms remain the main source of funding for the Democratic People's Republic of Korea (DPRK). “DPRK cyber actors stole more than $50 million between 2020 and mid-2021 from at least three cryptocurrency exchanges in North America, Europe and Asia,” according to the UN report. They also cite blockchain forensics firm Chainalysis which estimates Pyongyang has taken nearly $400 million in digital assets through attacks on several crypto companies last year. | |
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