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North Korean cyberattacks on South Africa – What happened to cryptocurrency exchanges

August 25, 2019 / Jan Vermeulen

Cryptocurrency exchanges Luno, Ice3X, AltCoinTrader, VALR, and Ovex told MyBroadband that neither North Korea nor any other attacker has breached their security. This follows recent reports that South Africa was one of 17 countries hit by North Korean attackers to raise money for its weapons of mass destruction programmes. Articles from Reuters and the Associated Press cited an unpublished report prepared for the UN Security Council, which stated that North Korea perpetrated at least 35 attacks and raised up to $2 billion. One attack reportedly targeted thirteen countries: Costa Rica, Gambia, Guatemala, Kuwait, Liberia, Malaysia, Malta, Nigeria, Poland, Slovenia, South Africa, Tunisia, and Vietnam. South Korea, India, Bangladesh and Chile each suffered multiple attacks by North Korea. Although no details of the attack on South Africa were provided, the report stated that there were three major ways in which North Korea was raising money: Attacks on the SWIFT system, which is typically ...