A illustration of Bitcoin and a value chart are seen on this October 2023 photograph illustration. Reuters-Yonhap
South Korea and america are conducting joint research to strengthen safety in opposition to cryptocurrency heist makes an attempt amid rising issues of such assaults by North Korea-linked hackers, officers mentioned Sunday.
Based mostly on a not too long ago signed technical annex between the South Korean authorities and the U.S. Division of Homeland Safety, the 2 sides will collectively develop applied sciences to prevent cryptocurrency-targeted assaults and to observe stolen property, in accordance to authorities and cybersecurity trade officers.
The science ministry plans to help such research via the Institute of Info & Communications Know-how Planning & Analysis till 2026.
The transfer comes as the value of bitcoin not too long ago surged to $100,000 after the U.S. presidential election final month, elevating issues of elevated makes an attempt by hackers to steal digital property.
Whereas america collaborates with different international locations for cybersecurity research, it’s identified to have chosen South Korea for research on digital asset monitoring know-how as North Korea is seen as a key wrongdoer behind cryptocurrency heists.
Beneath this system, South Korean and U.S. researchers, together with these from Korea College and the RAND research institute, will focus on applied sciences to prevent and observe hackers once they steal property from a cryptocurrency trade.
They will even focus on understanding how they convert or launder different monetary property they get hold of into digital property via unlawful ransomeware or different strategies.
North Korea is called a significant participant in cryptocurrency heists, with hackers linked to the nation estimated to have stolen $1.34 billion price of cryptocurrency throughout 47 incidents this 12 months, in accordance to Chainalysis, a blockchain evaluation agency. (Yonhap)
