North Korea: reportedly starts mining Bitcoin, and targets digital currency exchanges

When it comes to talking about North Korea and digital currencies, most of the times, there isn’t much to say. Considering that a high percentage of the population does not have access to the World Wide Web, it is therefore unlikely for them to own any Bitcoin. However, recent reports indicate that the regime is swiftly switching its attention to the Bitcoin market after news of North Korea mining the currency and attacking various Bitcoin exchanges has surfaced.

Recorded Future, an intelligence research firm backed by Google Venture, has recently mentioned that there is enough evidence to believe that the Democratic People’s Republic of Korea (DPRK) has begun mining Bitcoin on the 17th of May and may be using the digital currency in order to generate more capital for the regime. This news comes directly after the UN Security Council approved some of the harshest sanctions on the country yet; some of which are capping the oil imports, banning textile exports altogether and ending numerous overseas labour contracts. These aspects indicate that it is more than likely that mining Bitcoin may end up becoming a viable source of income for the North Korean Government.

The research intelligence company was not able to determine the volume of coins being mined, they are however, more than certain that there is activity in North Korea.

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