North Korean Government Planning to Hold First Cryptocurrency Conference in October | Possible Showing of State-of-the-Art Technology
What to watch during North Korea’s first cryptocurrency event
According to a report by the Yonhap news agency in South Korea, which quoted a report from the US national radio program Radio Free Asia, North Korea (DPRK) is planning to host the “International Block Chain Conference” in Pyongyang, the capital city, for two days starting on October 1.
Furthermore, the conference plans to invite industry experts from around the world and hold meetings with representatives of state-owned enterprises on October 3rd. The conference is attracting lots of attention, since there have been allegations of hacking regarding cryptocurrencies.
Bitcoin.com reported an interview by Radio Free Asia with an anonymous security expert who claimed that North Korea is likely to demonstrate its capabilities in state-of-the-art cryptography and blockchain technology through cryptocurrency conferences.
Hacking that North Korea has allegedly been involved with
The hackings of cryptocurrencies reported by Coinpost last week are not the first allegations.
Lazarus, which is suspected of having deep connections with the North Korean government, has been blamed for many of the cyber incidents that have occurred in the past 10 years, and is reported to be responsible for hacking cryptocurrency exchanges in South Korea such as Bithumb.
Recently, a report by a Russian security company called Kaspersky Lab pointed out cyber invasions in cryptocurrency exchanges in Asia.
Currently, it is not clear which exchanges are being targeted.
In March this year, Pricilla Moriuchi, a cybersecurity expert in charge of the Asia-Pacific region at the National Security Agency (NSA), revealed that North Korea obtained about 11,000 BTC by mining and hacking in 2017. The market price for BTC at that time is estimated to more than 200 million dollars.
North Korea began using decentralized and anonymous cryptocurrencies to circumvent global restrictions on access to financial systems and economic sanctions led by the United States.
In addition, it is believed that Pyongyang University has started cryptocurrency classes, showing just how serious Kim Jong-un’s regime is about this upcoming industry.
