·

North Korea to Host International Crypto Conference

North Korea to Host International Crypto Conference

Blockchain is pervading countries around the world, even those that have kept isolated. North Korea is hosting its first-ever international cryptocurrency and blockchain conference on Oct. 1, 2018.

North Korea Joins the Blockchain Movement

North Korea will host industry leaders from around the world in its first cryptocurrency and blockchain conference, Oct. 1-3, reports The Straits Times.

The Korean International Blockchain Conference will welcome blockchain and cryptocurrency experts and professionals to North Korea’s capital city, Pyongyang. Through the event, North Korea plans to showcase its advancements in blockchain technology and draw investor attention to new projects. Attendees will also have the chance to meet with North Korean business officials during the event.

North Korea’s open gathering is an unexpected development, given their recently alleged involvement in large-scale cryptocurrency exchange hacks.

On Aug. 24, CryptoSlate reported that North Korean hacker group “Lazarus” launched a malware-infected cryptocurrency trading application for MacOS users that automatically downloaded a virus upon opening.

The fraudulent application downloaded “Fallchill,” a remote access trojan (RAT) virus that is a known signature attack of Lazarus Group. According to cybersecurity firm Kaspersky Labs, the targeted cryptocurrency exchange did not lose any customer funds during the attack.

North Korea Attempts Crypto Mining

North Korea attempted to develop a Bitcoin mining operation last year, according to Yonhap News Agency.

A local report compiled by the research division of Korea Development Bank (KDB) revealed that North Korea may have attempted to mine bitcoin from May 2017 to July 2017, but was unsuccessful. The reasons for discontinuing mining operations were not disclosed.

The same report notes that North Korean technology firm Chosun Expo was developing a cryptocurrency exchange for bitcoin trading at the time.

Given the nation’s interesting past and difficult international relations, it’s still unknown whether international leaders and industry experts will attend North Korea’s first cryptocurrency and blockchain conference.

Cover Photo by conan_mizuta on Pixabay

Posted In: , Adoption
Invest with AMFEIX

Like what you see? Subscribe to CryptoSlate

Get our daily newsletter containing the top blockchain stories and crypto analysis straight to your inbox.

Sign up to stay informed
Jonathan Kim
Author

Jonathan Kim

Former Journalist @ CryptoSlate

Jonathan Kim is a University of Washington student of Finance and cryptocurrency investor with a deep interest in the emerging industry of blockchain applications and cryptocurrency trading. His past experiences involve publishing original daily content for blockchain startups and trading cryptocurrencies using technical analysis principles.

View author profile

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.