07/11/19 03:00 UTC-5

North Korea is suspected of money laundering through a blockchain firm

OtherNorth Korea launders money through Marine China
North Korea launders money through Marine China

According to a quarterly report by the UN Security Council’s Sanctions Committee, North Korea is suspected of fraudulent use of Hong Kong's blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details


North Korea is suspected of fraud

The UN committee found that North Korea used the blockchain-based shipping company Marine China to circumvent international sanctions for laundering stolen cryptocurrencies.

The latest cryptocurrency news has shown that the digital currency that North Korea stole last year was exchanged for cash. There are about 5000 individual transactions in several countries, which makes tracking difficult.

North Korea uses “targeted phishing” – fraudulent emails from a known or trusted sender to encourage targeted parties to disclose sensitive information. After which hacking is carried out, according to the report of the committee.

Interesting in the section: North Korea creates its own cryptocurrency

  • Over the past three years, 17 countries have become targets for North Korea, which, according to a committee report, has led to losses of more than $2 billion.

See also: "Blockchain for storing information on the network received $5 million"

#NorthKorea #fraud #blockchain #MarineChina

Editor: Yuliya Soroka