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North Korea to hold second crypto event early next year

By Ramla Soni

North Korea will be holding its second cryptocurrency and blockchain conference in February 2020, according to coindesk.

North Korea to hold second crypto event early next year

The event which was first hosted in April 2019 and attracted 100 people will be sponsored by the Spanish Korean Friendship Association and organised by the North’s Committee for Cultural Relations with Foreign Countries.

Like the first conference, restrictions appear to be liberalised. U.S. citizens will be welcomed, and digital devices can be brought in for the conference with access to the internet also available.

The conference will run from February 24-25 and will be held at the Pyongyang Science and Technology Complex which was opened by Kim Jong-un in 2016.

In a recent U.N report North Korea has been accused of stealing $2 billion worth of crypto currencies and fiat currencies in 35 separate attacks in 17 countries, and of using them to support its weapons development.

South Korean and Japanese exchanges have been identified as targets, with phishing being utilised to hack into user accounts.

At the same time, the U.S. has sanctioned three North Korean entities for cybercrimes, mentioning cryptocurrency thefts as one of the reasons for the action, coindesk stated.

The U.S. Department of the Treasury identified the Lazarus Group, Bluenoroff and Andariel as entities now on its sanctions list, who are believed to be responsible for the theft of $571 million worth of cryptos from five exchanges in Asia in 2017 and 2018.

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