Investigators in South Korea are looking into possible involvement from North Korea in yesterday's hacking of Youbit
Yesterday, I posted here that one of South Korea's cryptocurrency exchanges was hacked and lost about 17% of its total assets as a result. Now, according to people familiar with the matter, there are telltale signs and historical evidence that North Korea was behind the Youbit attack.
Reports say that North Korean hackers in April targeted the same cryptocurrency exchange, operating under a different name.
Kim Jong Un's regime is finding it difficult to source funds to advance its nuclear-weapons program - in the wake of tightened economic sanctions. That of course is one of the theories proposed as to why they're exploring hacking into cryptocurrency spaces since they are highly vulnerable.
On a side note, Youbit purchased a 1 year cyber-insurance policy from DB Insurance Co on 1 Dec, with damage coverage up to about $2.8 billion. Hmm. Interesting, no? Though the 17% loss in its assets are not disclosed in financial terms/value.
