New Monero Mining Malware Sends Proceeds to Kim Il Sung University, North Korea

January 10, 2018
112 Views



Monero Mining Malware Sends Proceeds to Kim Il Sung University, North Korea

The code for a new Monero mining bot has been found to direct its ill-gotten gains to a computer server located at the first academic institute ever built in North Korea, Kim Il-sung University.

Also Read: US Blames Bitcoin Ransomware Attack Wannacry on North Korea

Malware University, North Korea

Monero Mining Malware Sends Proceeds to Kim Il Sung University, North KoreaCyber security solutions developer Alienvault revealed on Monday that its labs recently analyzed an application compiled on Christmas Eve 2017 – an installer for software that mines monero. While such malware is common these days, what’s new here is that the researchers say they found that the mined cryptocurrency is sent to Kim Il Sung University in Pyongyang, North Korea.

The report says that: “Cryptocurrencies could provide a financial lifeline to a country hit hard by sanctions. Therefore it’s not surprising that universities in North Korea have shown a clear interest in cryptocurrencies. Recently the Pyongyang University of Science and Technology invited foreign experts to lecture on cryptocurrencies. The Installer we’ve analyzed above may be the most recent product of their endeavors.”

Monero Mining Malware Sends Proceeds to Kim Il Sung University, North Korea

The Usual Suspects

Monero Mining Malware Sends Proceeds to Kim Il Sung University, North KoreaMonero has been the subject of a mainstream media smear campaign lately, with many publications around the world repeating the line that criminals are abandoning bitcoin and switching to this “new” cryptocurrency. North Korea also has been marked as a hackers’ nation, responsible for most cyber attacks on Western targets.

While both counts are likely to true, skeptics may wonder whether the demonization of North Korea is all part of a psy-op to gain public approval for some sort of strike (cyber, financial or otherwise) against the isolated country. Even the Alienvault team admit in their report that just because the code points to Kim Il-sung University doesn’t prove that it is the source of the software, recognizing the option that the “usage of a North Korean server is a prank to trick security researchers.”

Do you think bitcoin ransomware is keeping North Korea’s economy above water? Share your thoughts in the comments section below!


Images courtesy of Shutterstock.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post New Monero Mining Malware Sends Proceeds to Kim Il Sung University, North Korea appeared first on Bitcoin News.



Source link

You may be interested

Bitcoin price: Crypto boss says bitcoin bubble has burst and THIS is why it’s good news
Bitcoin News
13 views
Bitcoin News
13 views

Bitcoin price: Crypto boss says bitcoin bubble has burst and THIS is why it’s good news

Editor - August 18, 2018

[ad_1] Bitcoin price: Crypto boss says bitcoin bubble has burst and THIS is why it's good news  Express.co.ukFull coverage [ad_2] Source…

Countdown Nearly Over For Qravity ICO Presale: Includes 30% Early Participation Bonus
ICO News
9 views
ICO News
9 views

Countdown Nearly Over For Qravity ICO Presale: Includes 30% Early Participation Bonus

Editor - August 18, 2018

[ad_1] The stage is set for the Qravity ICO presale on August 18th - 31st, where early investors can receive…

Coinbase Acquires Distributed Systems to Become the Facebook of Crypto
Coinbase News
11 views
Coinbase News
11 views

Coinbase Acquires Distributed Systems to Become the Facebook of Crypto

Editor - August 18, 2018

[ad_1] In a bid to become the Facebook of the crypto sector, Coinbase, the world’s largest exchange for buying and…

Leave a Comment

Your email address will not be published.