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Hello. This is 7NEW. Suspicion has emerged that North Korea is exchanging digital currency stolen from the world and using it to finance the development of weapons of mass destruction (WMD) such as nuclear weapons and missiles.
Last year, hacker organizations linked to North Korea, such as ‘Lazarus’ and ‘APT38’, stole 2.67 trillion won ($1.65 billion) worth of cryptocurrency. This accounted for 43.4% of the total cryptocurrency theft ($3.8 billion) in the same year. Korea also suffered 160 billion won in damage from them. The total amount of virtual currency stolen by organizations linked to North Korea over the past seven years is said to be equivalent to $3.2 billion (3.9 trillion won).
The scale of hacking in North Korea has increased significantly year after year. North Korea, which conducted nuclear tests in 2015 and 2016, received intense economic sanctions from the international community in 2017. Until then, North Korea’s annual hacking scale was about 1.5 million dollars. Illegal methods, such as drug trafficking and counterfeit bills, were the main means of earning foreign currency. However, in 2020, as the border closed due to the corona, North Korea turned its eyes to the virtual currency market.
The size of the cryptocurrency market is also growing rapidly. In 2017, when the ‘Bitcoin craze’ blew, the domestic virtual currency market won 1 trillion, but in 2022 it increased to 600 trillion won. While the cryptocurrency ecosystem has expanded by leaps and bounds, the security of exchanges and related platforms has been relatively weak. To break through the current financial system and steal money, the money laundering process is complicated even after hacking.
The cryptocurrency industry describes North Korea as a ‘crypto superpower’. In South Korea, students who do well in school go to medical school, but in North Korea, students go to hacker-related departments. This is because the state supports them, they are free to go abroad, and their social and economic status is guaranteed. North Korea’s top 300 to 500 hackers are evaluated to be on par with the hacker group of the US intelligence agency, the National Security Agency (NSA).
North Korea uses the virtual currency stolen by hackers as a source of funds for weapons development. The United States suspects that a third of the cost of North Korea’s missile program comes from laundered cryptocurrency, and the South Korean government also believes that North Korea’s launch of more than 30 ballistic missiles is half first last year was supported by cryptocurrency hacking I assume it did.
North Korea is focusing on strengthening its hacking capabilities. Analysts say North Korea’s money line has not completely dried up despite long-term economic sanctions because hackers are stealing cryptocurrency. Last year, North Korea’s annual budget is estimated to have won 12 trillion ($9.1 billion), and the amount of cryptocurrency stolen by hacker groups accounts for a large portion of livelihood.
Cryptocurrency owned by companies and citizens should not become black money used to support the North Korean regime. Is North Korea just looking for money? Various forms of information theft and system destruction are also targets. Now is the time to thoroughly prepare for cyber security.
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On the morning of the 6th (local time), an earthquake of magnitude 7.8 hit southern Turkey and Syria, killing at least 2,300 people (at 6:00 pm), reported the Associated Press, AFP and the BBC. The number of injured is estimated to be close to 10,000. The earthquake happened at dawn when most residents were sleeping, and many people were crushed by the rubble of collapsed buildings, so the number of casualties is very likely to increase in the future.
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Local governments across the country are putting out various programs to support middle-aged retirees in their 50s and 60s. It is not simple leisure life support. They are approaching the idea that starting to form a healthy community is reviving their spirit.
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◇ Vaccine that took 10 years in one year… AI medical revolution
AI is revolutionizing healthcare and pharmaceuticals. AI is playing an active role in various fields such as diagnosis as well as developing new drugs, and overcoming mankind’s incurable diseases is getting closer. In the future, the penetration of AI in the medical field is expected to accelerate.
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◇ No, Lee Sang-min’s impeachment report in the plenary
On the 6th, the Democratic Party of Korea proposed an impeachment motion in the National Assembly against Public Administration and Security Minister Lee Sang-min, citing a poor response to the Halloween disaster. The impeachment bill was immediately reported to the full meeting of the National Assembly that day. As the minister’s impeachment bill is decided in favor of the majority of the current legislators, the Democratic Party which has 169 seats can handle it alone.
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◇ North Korean hacker organizations stole 160 billion coins in South Korea last year
An official from the intelligence authorities announced on the 6th that North Korea identified about 160 billion won in cryptocurrencies owned by South Korean companies and hacked citizens last year. South Korean and US intelligence authorities believe the stolen cryptocurrencies are being laundered and used as money for nuclear and missile development.
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◇ Han Dong-Hoon “Cheongdam-dong fake news makes more money, and Kim Eui-gyeom takes care of the donation”
Justice Minister Han Dong-hoon said, “It is important not to go overboard and reveal the truth until the end and set a strict precedent.” He has filed a complaint with the police against Rep. Kim Eui-gyeom and officials from the Audit Agency for spreading false information.
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Jo Min (32), the daughter of former Justice Minister Cho Kook, appeared on the YouTube channel ‘Kim Eo-jun’s Humility is Hard News Factory’ on the 6th and said, “I lived a proud and shameless life.” Looking at the things I dealt with during that time, I think it was very harsh.”
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