South Korean authorities: yes, North Korea stole funds from our crypto exchanges

South Korean police confirms that North Korea stole cryptocurrency funds from the exchanges of the country.

The regime of Kim Jong-un, while may seem archaic, with soldiers marching in uniforms resembling Stalin-era USSR outfits and having nuclear missiles still obsolete while already dangerous enough to threaten the U.S. Guam military base, has lately taken an interest in cryptocurrency as a means of regime financial survival.

Some consider WannaCry attackers are originating from North Korea, and there were multiple reports that a special hacker military unit operates in the DPRK, plotting to steal funds from South Korean exchanges and successfully doing so. The N. Korea government’s choice to acquire digital currency might come from the fact that this type of money is not issued by a state central bank and decentralized, therefore no sanctions can be imposed that will separate North Korean officials from digital coins.

The report issued by the Republic of Korea’s National Police Agency (NPA) directly confirms the theory that Kim Jong-un tried to avoid sanctions by using government-backed hackers.

Meanwhile, reports suggest that the recent ICO ban in South Korea had not affected the price of Bitcoin at all.