The US government has announced it now officially considers North Korea to be behind the Wannacry bitcoin ransomware cyber attack which caused billions of dollars in damages earlier this year.
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Wannacry
Wannacry infiltrated Windows computers, encrypted data and demanded ransom in bitcoin to return control of the files. It is estimated to have hit over 300,000 computers in 150 countries around the world, including banks, telecom companies, and other vital economic infrastructure systems. Microsoft security researchers recently blamed North Korea for the attack, using tools from the US National Security Agency (NSA).
“It encrypted and rendered useless hundreds of thousands of computers in hospitals, schools, businesses and homes. While victims received ransom demands, paying did not unlock their computers. It was cowardly, costly and careless. The attack was widespread and cost billions, and North Korea is directly responsible,” Bossert wrote in his Op-ed.
Army of Bitcoin Hackers
Beyond just the monetary gains, which can be substantial for the poverty-stricken North Koreans, holding bitcoin can help the pariah nation bypass Western economic crippling its economy. Cyber attacks in general are also a winning asymmetric warfare strategy for North Korea, allowing it to harass, harm, and appear equal to its much stronger adversaries south of the 38th Parallel, Japan, and the US.
Is bitcoin ransomware keeping North Korea’s economy above water or has the revenue gained from this been overstated? Share your thoughts in the comments section below!