Sanctions are driving North Korean hackers to steal bitcoin and other cryptocurrencies, according to cybersecurity firm FireEye.
Bitcoin and other forms of virtual money — known as cryptocurrencies — appeal to North Korea as the U. S. pursues international sanctions aimed at further isolating the country, according to a new report from FireEye.
«Sanctions against North Korea are likely to fuel their cybercrime activity, » said Bryce Boland, Singapore-based chief technology officer with FireEye. «Attacks on cryptocurrency exchanges can be a great vehicle to obtain what is ultimately hard currency.»
Related: North Korea’s long history of hacking
It’s just the latest example of the illicit ways North Korea allegedly brings in money as it endures wave after wave of increasingly tough international sanctions over its rapidly advancing nuclear weapons program.
FireEye says it has identified three attacks against South Korean cryptocurrency exchanges that took place between May and July, all of them linked to North Korean hackers. The spike in activity began soon after the U. S. said it planned to ratchet up sanctions against North Korea.
With fresh U. N. sanctions and bitcoin’s skyrocketing value, «the potential windfall from these attacks has risen accordingly, » Boland said.
