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#CryptoCorner: North Korea Has Accumulated $670 Million in Crypto Through Cyberattacks, SFOX Report Finds that Bitcoin Trading Volumes at "highest level since January 2018

Point Roberts, WA and Delta, BC - March 8, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s  (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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#CryptoCorner: North Korea Has Accumulated $670 Million in Crypto Through Cyberattacks, SFOX Report Finds that Bitcoin Trading Volumes at highest level since January 2018

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Crypto Corner

North Korea Has Accumulated $670 Million in Crypto Through Cyberattacks, SFOX Report Finds that Bitcoin Trading Volumes at "highest level since January 2018”, Quantstamp Expanding to Japan After "Significant Investment” from Nomura Holdings and Connecticut to Legalize Blockchain-Based Smart Contracts

Nikkei Asian Review reports that North Korea has accumulated about $670 million worth of cryptocurrencies through cyberattacks and theft. This is according to a panel of experts reporting to the U.N. Security Council. The spate of cyberattacks is believed to be a response to the various sanctions imposed on North Korea from the global community over their nuclear missile testing. The piece quotes a U.N. panel, who said virtual currencies:

"provide the Democratic People's Republic of Korea with more ways to evade sanctions, given that they are harder to trace, can be laundered many times and are independent from government regulation."

Crypto prime dealer SFOX published their Crypto Volatility Report via Medium yesterday. A significant finding from the report is that transactions on the Bitcoin (BTC) network were at the highest level since January 2018. A summary from the report lists the following highlights:

  • The SFOX Multi-Factor Market Index remains at mildly bullish entering March 2019.
  • LTC's jump in volatility on February 8th and 9th suggests that the market is still keenly interested in privacy technology.
  • Crypto volatility in February reaffirmed market interest in privacy and ETFs, and challenged market interest in J.P. Morgan's new cryptocurrency.
  • Watch Asia Crypto Week and BTC futures expirations to potentially impact crypto volatility in March.

U.S. smart contract security company Quantstamp is expanding to Japan, according to a recent announcement. This follows "significant investment" from Japanese financial holding company Nomura Holdings and venture company Digital Garage. Chuzaburo Yagi, Senior Managing Director in charge of Innovations at Nomura Holdings, Inc., commented:

"As blockchain technology is adopted in the financial world, smart contracts will play an increasingly important role. Security assurances through auditing and certification will become increasingly indispensable. I believe Quantstamp is well positioned to support this role as they work to secure smart contract technology."

The U.S. state of Connecticut has moved to legalize the use of blockchain-based smart contracts with the filing of a new bill. A section of the bill reads:

No contract relating to a transaction shall be denied legal effect, validity or enforceability solely because such contract is executed through a smart contract.

Sam Mowers, Investorideas

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