North Korea has developed new software to engage in mining Monero cryptocurrency as an alternative to avoid sanctions.
The regime in North Korea has been in the news recently with several accusations of cryptocurrency theft and scams. The Asian country has received several financial sanctions from the United States and other western nations due to the refusal of the regime to suspend its ballistic missile and nuclear enrichment programs.
North Korean leader Kim Jung Un has been accused of using cryptocurrency to generate illegal revenue for his projects and the country’s military acquisitions.
Why is North Korea interested in Monero mining?
Monero is a private open-source cryptocurrency launched in 2014 and is noted for its privacy and decentralization. This could be a major reason why Monero mining has now become a new haven for North Korea. Hackers in North Korea have targeted several western corporations and investors in cryptocurrency, especially South Korean crypto exchanges. Read More