Two topics are spoken about globally almost daily. The first is a country with no regard for following the wishes of countless other nations. And the second is our favorite cryptocurrency; Bitcoin. Yet somehow these two things are interconnected.
Threats on the horizon
The recent months have contained tension involving North Korea. Twice the nation has launched Ballistic missiles over the nation of Japan as tests. The first warranted pleas to not do it again, even some threats if the tests were to continue. But after the second, nations around the world are not inclined to simply ask to stop. The United Nations have placed sanctions on the nation. And the latest bans aimed to damage the income by banning textiles made by North Korea.
Bitcoin was seen as a black market investment for a period of time on the dark webs. Illegal activity has been a problem with the cryptocurrency, but thankfully the bitcoin exchanges have been working with authorities to crack down on this. And where does North Korea fall into this? They have been hacking South Korean BTC Exchange services.
Manipulation of the BTC
The sanctions aforementioned put stress on the North Korean infrastructure, as well as the people. These hacks bypass the issues presented by the sanctions; and at the current price of bitcoin stock, the benefits the regime reaps are staggering. Thankfully for the rest of the world the hacks have been contained within the southern neighbor.
At this moment in time leader; Kim Jong In, is not looking to cease the nations expanding nuclear programs. Nor listen to any requests with the potential for more sanctions. Maybe there will be more attacks at a higher frequency if new UN sanctions are imposed. If only it was a different country using bitcoin to accomplish more positive feats, maybe then the world could see more potential in the currency.