North Korea is now exploiting cryptocurrencies to bypass international regulations put on it by UN and is helping themselves for financially supporting its regime.
Cyber-threat intelligence firm Recorded two cryptocurrency scams in 2018 by a network of "North Korea-enablers" located in Singapore.They were designed to con investors and funnel funds into the country.
One scam relates to the cryptocurrency 'hold', which was listed on and removed from a series of exchanges in 2018, before it rebranded to 'huzu'. The report say the cryptocurrency "left its investors high and dry."
A second scam had blockchain application invovled aka Marine Chain Platform and its initial coin offering (ICO) was based on crowdfunding efforts.
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