South Korean Intelligence Service Informs Crypto Exchanges About Cyberthreats

South Korean Intelligence Service Informs Crypto Exchanges About Cyberthreats – According to the Yonhap news agency, South Korea’s National Intelligence Service (NIS) has begun to inform the country’s major cryptocurrency exchanges about hacking efforts as dangers of this sort are on the rise.

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The four largest Korean coin trading platforms, Upbit, Korbit, Bithumb, and Coinone, have been given real-time accessibility information on online security issues. The data includes Internet Protocol addresses linked to cyber attacks, according to the intelligence agency.

Also Read: Bank of England Governor Says Crypto Creates Opportunity for the Downright Criminal

Cyberthreats are being recognized in both the public and private sectors, according to NIS, and are directly tied to the Republic of Korea’s national security. The military stressed the significance of dealing with such threats, revealing:

“In the future, we plan to provide and share more specialized knowledge, such as the latest hacking methods and malicious codes relevant to virtual assets.”

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Hackers purportedly operated by North Korea have targeted cryptocurrency exchanges as well as financial institutions. Cyberattacks on coin trading platforms remain a major source of income for the Democratic People’s Republic of Korea, according to a United Nations assessment created by independent sanctions monitors and delivered to the Security Council in early February.

Also Read: Indian Parliament Member Insists Crypto Is Like Gambling – Wants to Tax at 50%

South Korean Intelligence Service Informs Crypto Exchanges About Cyberthreats – “Between 2020 and mid-2021, DPRK cyberactors stole over $50 million from at least three cryptocurrency exchanges in Asia, Europe, and North America,” the authors wrote.

They also cited Chainalysis, a blockchain forensics firm that estimated Pyongyang had appropriated close to $400 million in digital assets last year through attacks on various crypto firms.

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