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North korean hacking group lazarus behind $571m in hacks since january 2017
north korean cybercrime hacking group the lazarus group is currently the biggest crypto hacking syndicate in the world, having stolen millions worth of cryptocurrencies from online exchanges. also known as hidden cobra, which works at the behest of the north korean government, the lazarus group has been responsible for some of the world’s largest cyber attacks including the sony hack in 2014, the wannacry ransomware outbreak, military espionage and a number of attacks on south korean businesses.
in a report acquired by news outlet hardfork, cybersecurity outfit group-ib outlines trends in hi-tech cybercrime, detailing 14 different attacks on cryptocurrency exchanges since january 2017. it suggests that lazarus has been responsible for the disappearance of over $571 million in cryptocurrency.
what is most interesting about the data from group-ib is that a large majority of the targeted exchanges are domiciled in south korea, such as bithumb, youbit and coinrail.
this data appears to confirm accusations made by a member of south korea’s parliamentary intelligence committee that the north korean government has stolen cryptocurrency worth billions of won last year from south korean exchanges.
Deputies of the russian state duma have removed a definition for crypto mining from the draft law “on digital financial assets.” russian deputies have removed the definition of crypto mining from a draft bill on digital currency regulation ahead of its next reading in the state duma, major local news agency interfax reportsoct. 19. consequently, the new law will not clarify tax issues for miners.
the chairman of the duma committee on financial markets anatoly aksakov briefly explained the reason behind the deputies’ decision to eliminate a core crypto term from the bill: “earlier we had some thoughts on bitcoins, on their integration into our economic system. but as we decided we don’t need them, these ambiguous bitcoins, therefore we don’t need mining as well.” if the law were to define crypto mining, it consequently would also need to define cryptocurrencies, aksakov told interfax. he further added that it would be “senseless” to include mining in the regulation proposed by the government. he said mining should be brought under tax watchdog jurisdiction if needed.
it is not immediately clear whether definitions for tokens and initial coin offerings (ico), and rules for crypto exchanges — which were included in the initial draft — remain in the current version. the present draft law will proceed to the second of three readings in the duma.
The government and university of gibraltar have launched an advisory group to address the demand for blockchain-related skills.
the government of gibraltar in collaboration with the university of gibraltar have created an advisory group focused on the development of blockchain-related educational courses, national news outlet the gibraltar chronicle reported oct. 19.
the new technologies in education (ntie) group is reportedly a joint initiative between the government, the university of gibraltar, and a number of the leading technology firms based in the country. following the expansion of new technologies in gibraltar, the ntie will address the demand for related skills both in the private sector and at the governmental level.
the courses — which are expected to be launched later this year — will also be backed by “significant input” from industry players who are in the process of becoming licensed by the gibraltar financial services commission. “providing access to innovative courses with expert input from those using this technology in the private sector is a vital component in the development of a sustainable distributed ledger technology (dlt) commercial community in gibraltar,” stated gilbert licudi, a queen’s counsel and the minister with responsibility for the university of gibraltar.
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