Crypto Sea of Red, Korean Regulations

in #korea7 years ago

A U.S.-based cybersecurity firm has uncovered malware apparently being used to mine the Monero cryptocurrency and send it to a university in North Korea.

Cyber firm AlienVault released an analysis of the malware on Monday, saying that it installs software on victim computers that instructs them to perform complex computational tasks to "mine" Monero. The mined currency is then sent to a server located at Kim Il Sung University in Pyongyang.

The revelation could point to an effort by those in North Korea to find an alternative stream of revenue as the country finds its economy squeezed by international sanctions imposed over its nuclear and ballistic missile program.

"Crypto-currencies could provide a financial lifeline to a country hit hard by sanctions. Therefore it's not surprising that universities in North Korea have shown a clear interest in cryptocurrencies," AlienVault said Monday.hacker_090817getty.jpg

Sort:  

Congratulations @brianrkelly23! You received a personal award!

1 Year on Steemit

Click here to view your Board

Do not miss the last post from @steemitboard:

SteemWhales has officially moved to SteemitBoard Ranking
SteemitBoard - Witness Update

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @brianrkelly23! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!