Topic: Who Loves Crypto? North Korea, That’s Who (Read 271 times)
South Korean lawmakers confirmed their willingness to promote the blockchain industry, but Jung Byung-kook, chairman of the 4th National Industrial Special Committee, stressed that the government must remain cautious and have a conservative approach to technology in terms of its management.
The article has it's basis as North Korea has been sanctioned because of it's wrong doing. There is a very big possibility that they will do everything just to earn some good amounts of profit without being notice by other countries and exploiting crypto currencies is the best target for them.
Though I am pretty sure that they have no concrete evidence yet but exploitation is kinda bad side in crypto currencies especially if the North Korea was able to find some updated techniques to continue their wrong doings. It will surely affect the future of crypto currencies.
Though I am pretty sure that they have no concrete evidence yet but exploitation is kinda bad side in crypto currencies especially if the North Korea was able to find some updated techniques to continue their wrong doings. It will surely affect the future of crypto currencies.
South Korea is a country that has a lot of enthusiasm for crypto. the government does not prohibit crypto transactions. but the Korean government banned some ICO activities. their reason is because the Financial Services Commission has found that companies that conduct ICO use foreign jurisdiction, but still collect funds from South Korean citizens.
In any case, there will be those countries that have a negative attitude to bitcoin. This cannot be avoided. Here again, you should rely on yourself and the crypto community as a whole to be able to confront this problem and convey to others the idea that there is nothing dangerous in bitcoin.
It's disappointing that some countries like North Korea adopt bitcoin in a negative way involving criminal activities. It's one of the reasons why some countries are afraid of the risk of adopting bitcoin because it could lead to insignificant usage
such as cybercrime. If ever they process traders' transactions, I guess we can't do anything about it because that's just a part of the transaction but it doesn't mean that we're complicit.
Cryptocurrencies are very easy to develop and anyone can create, distribute and use cryptocurrencies. So this depends on the elements that use it, even countries that use cryptocurrencies for criminal activities are legitimate because up to now there has been no regulation about the regulation. that's why the importance of regulation, so do we still need regulation of cryptocurrencies? such as cybercrime. If ever they process traders' transactions, I guess we can't do anything about it because that's just a part of the transaction but it doesn't mean that we're complicit.
It's known that North Korea indeed uses cryptocurrencies. It is logical that they'd look for ways of avoiding the sanctions. However, like others said, it's not cryptos to blame for that. All sorts of money are used by bad people to do bad things. And it's not like the majority of the market is controlled by these bad people anyway.
Moreover, it's worth noting that while the article tries to make a point that cryptos are bad since North Korea is pro-crypto, this country actually commits crypto crimes like hacks of exchanges which are not in the interest of crypto users.
Moreover, it's worth noting that while the article tries to make a point that cryptos are bad since North Korea is pro-crypto, this country actually commits crypto crimes like hacks of exchanges which are not in the interest of crypto users.
Yep, so as much as we hate North Korea, they learn how to embrace and take advantage of crypto to get away with sanctions for US. So it's really hard to blame them for getting into crypto even in the bad way.
On the other hand, they became self reliant themselves. I guess the downside is that they have been accused of hacking specially South Korean exchanges, which make crypto look bad and this is exploited b media and spread FUD.
It's known that North Korea indeed uses cryptocurrencies. It is logical that they'd look for ways of avoiding the sanctions. However, like others said, it's not cryptos to blame for that. All sorts of money are used by bad people to do bad things. And it's not like the majority of the market is controlled by these bad people anyway.
Moreover, it's worth noting that while the article tries to make a point that cryptos are bad since North Korea is pro-crypto, this country actually commits crypto crimes like hacks of exchanges which are not in the interest of crypto users.
Moreover, it's worth noting that while the article tries to make a point that cryptos are bad since North Korea is pro-crypto, this country actually commits crypto crimes like hacks of exchanges which are not in the interest of crypto users.
You love the good stuff bitcoin can bring, you have to love the dark side of it too. NO one can really control who uses and how they use cryptocurrency. I don't want what N. Korea is doing but there is nothing we can do against it.
There is something that we can do about it. We can keep spreading the advantages that Bitcoin brings to the table in whatever way possible so that people would not focus too much on the dark side of Bitcoin as you mentioned.It all comes down to what people remember at the end of the day.
You love the good stuff bitcoin can bring, you have to love the dark side of it too. NO one can really control who uses and how they use cryptocurrency. I don't want what N. Korea is doing but there is nothing we can do against it.
North Korea’s established mining operations could offer an advantage over cybercrime insofar as mining newly minted cryptocurrencies with no indication that they have been tainted or associated with criminal activity attracts less attention,” the report continues.
I don't particularly buy any of this, but especially not that.
Electricity generation in the DPRK is patchy and dire. Even the capital is in the dark most of the time. I'd be amazed if they had the flexibility, consistency or capacity to keep up with the pace of mining.
As for them being the crypto boogeyman to evade sanctions, it makes perfect sense on the surface but they're saddling themselves with something that needs to be sold for fiat before they can meet their bills. Since dealing with the international banking system must be one of their biggest headaches, having to get rid of something most banks hate BEFORE they can get on with laundering it doubles the headache.
If I were Kim I'd stick to churning out those Super Dollars.
I've always suspected that North Korea government has been mining cryptocurrency. This gives them a good back up plan in case of economic disaster. Its government run so its not like they have to worry about paying electricity bills.
I don't know why most of the Asian countries always have this negative mindset towards any invention that does not originated from they region, I read recently where north Korea also hacked into some American companies operating in they region, North Korea have used cryptocurrencies for negative operations there by making it look as if crypto is the currency for the dark web and chasing other countries away due to the fear of being attack through cryptocurrency which have lead to them not adopting it in they countries.
yes, it is bad, yet they don't have any choice. I don't think they are even willing to perform any kind of cybercrime but when your country is in danger(or so that they are being believed ) they have to take serious steps to save their country. we are as in outside of North Korea are free men and woman but they are not free. they are forced by their dictator and they think they are still in war with Americans. all we can do is ignore such type of activity and keep yourself safe.
It's because that's what North Korea is good, exploit every system in the world. 
. But I'm disappointed though, the author needs a better job, he totally forgot to mentioned about the Lazarus group, https://en.wikipedia.org/wiki/Lazarus_Group. It's state sponsored, but I don't give a damn, North Korea has been doing this for ages though, that's why US and West are putting lots of trade sanctions against this country.
. But I'm disappointed though, the author needs a better job, he totally forgot to mentioned about the Lazarus group, https://en.wikipedia.org/wiki/Lazarus_Group. It's state sponsored, but I don't give a damn, North Korea has been doing this for ages though, that's why US and West are putting lots of trade sanctions against this country. 
Actually, it's not just North Korea. All Asian countries have a very different view of crypto assets. There's only question marks on China.
North Korea as a government may be into crypto heavily but the normal people will struggle to gain any access to bitcoin’s due to the restrictions they’re under.
Actually, it's not just North Korea. All Asian countries have a very different view of crypto assets. There's only question marks on China.
Presently, North Korea is a major force in cybercrimes and international hacks which according to multiple sources is state sponsored. The sanctions by the US is affecting them and they're on the lookout for funds which makes them hack banks and exchanges. They're the best now in hacking and malware. With Russia and China by their side, it won't stop
90% of this so called "article" is filled with prejudiced and racism and mostly tries to spread some sort of FUD about bitcoin. the fact is the usage of bitcoin for illicit activities is far more common in the rest of the world rather than in a country like North Korea.
funny it should mention Wannacry ransomware and not mention the fact that the "backdoor" which this virus is using was placed inside the closed source Microsoft Windows by NSA intentionally!
funny it should mention Wannacry ransomware and not mention the fact that the "backdoor" which this virus is using was placed inside the closed source Microsoft Windows by NSA intentionally!
The question every crypto trader must ask: are you complicit?
With that logic everyone who uses US dollar is complicit in crimes of mexican drug cartels.
Because every miner processes every crypto transaction, you can rest assured the North Koreans are processing your transactions. Is that OK with you?
This just shows that the author doesn't understand how Bitcoin works, and/or intentionally spreads FUD to scare people who don't know anything about Bitcoin.
The RUSI report concludes on a sober note. “North Korea’s cryptocurrency activity is increasing in value and complexity and is likely to persist as part of its technology-enabled fundraising and sanctions evasion activity,” the report says. “The potential for North Korea to engage in large-scale sanctions circumvention by accessing prohibited goods and services directly with cryptocurrencies is a risk that could grow in significance.”
NK has big friends called Russia and China, they have enabled NK's nuclear program, they help them with goods, energy and money, and it happens on a scale that makes any crypto transactions of NK negligible. If someone really wanted to punish NK, they should punish Russia and China, but the West is too corrupt and scared to do anything.
It's disappointing that some countries like North Korea adopt bitcoin in a negative way involving criminal activities. It's one of the reasons why some countries are afraid of the risk of adopting bitcoin because it could lead to insignificant usage
such as cybercrime. If ever they process traders' transactions, I guess we can't do anything about it because that's just a part of the transaction but it doesn't mean that we're complicit.
such as cybercrime. If ever they process traders' transactions, I guess we can't do anything about it because that's just a part of the transaction but it doesn't mean that we're complicit.
That is the bad side there, we can't do anything about it.
I am just a normal user and I can't really do anything about people that do these things. The usual thing I do is just tell people about it, if they will be saying something for good, I will listen. But yeah, we are not complicit, I've been saying these for years and I will say it again, we can't control people how to use their BTCs, illegal or legal actions.
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