North Korea to Host Crypto Conference

August 28, 2018

North Korea is reported to hold a conference dedicated to blockchain and cryptocurrencies. The event is to be held in October and expected to attract experts from all corners of the world to meet North Korea’s enterprises.

The Democratic People's Republic of Korea (DPRK), the communistic hermit with poor reputation in crypto community, will host a conference on blockchain and cryptocurrencies in Pyongyang in October, as reported by the Radio Free Asia (RFA).

Under condition of anonymity, a security expert told the radio station that North Korea is likely to demonstrate its capabilities when it comes to cutting edge cryptographic and blockchain technologies.

The news on the upcoming event in Pyongyang comes after another report saying that the communist regime makes use of vulnerabilities in IT-security in the West for illegal mining. Lazarus Group, a team of cyber criminals often associated with North Korea, has deployed a new malware targeted at several operation systems.

This was by far not the first time when the DPRK was accused of illegal cryptocurrency seizure attempt. In March ex-cyber security agent in the Asia-Pacific region Priscilla Moriuchi said, North Korea has made at least 11,000 BTC via mining and hacking in 2017. At that moment it cost over $200 million.

Last year the notorious Lazarus Group was involved in attacks on South Korean crypto exchanges. According to surveillance sources in Seoul, North Korean hackers took part in a cyber attack on the country’s largest crypto platform Bithumb with personal data of over 30,000 users being stolen as a result.

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