Is THIS how Kim Jong-un will take over the world?

KIM JONG-UN is using the surging price of Bitcoin to raise money for his military war chest, security experts have warned.

By Anthony Blair /

Kim Jong-un with generals GETTY

DANGER: Kim Jong-un is using Bitcoin to fund his war machine, security experts warn

The crypto-currency's price has surged massively in 2017, peaking at one Bitcoin being worth almost £12,000 ($16,000) earlier this week.

Speculation has driven up the price of the virtual currency — which is bought and sold anonymously online — by 1,500% this year.

But now experts have warned that the anonymity of Bitcoin makes it a likely target for hackers, including North Korea's army of cyberwarriors.

Bitcoin GETTY

SOARING: The price of virtual currency Bitcoin has risen by 1,500% in 2017

Independent security researcher Ashley Shen and her colleagues have tracked attacks on Bitcoin exchanges by hacking groups that they believe can be traced back to the Asian country.

These North Korean hacks included attacks on major financial institutions, including banks in Europe and South Korea.

Ashley told Sky News: "We assume one of the reasons why Bitcoin is being attacked is because the price keeps increasing and we think it's reasonable for hackers (to target)

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    “One of the reasons why Bitcoin is being attacked is because the price keeps increasing”

    Security researcher Ashley Shen

    Bitcoin, which is easy to transfer, may also be a way for the cash-strapped dictatorship to raise money, as it faces increasing economic and diplomatic isolation.

    "Digital currency might be easier to gain than physical currency. So I think it's reasonable," Ashley added.

    A South Korean bank worker — who asked to remain anonymous — said that the nature of the hacks had changed since they started several years ago.

    "Just a few years ago the attacks were initiated to paralyse the society, but for sometime now they've been hacking for money," he said.

    "I kind of wonder if they are facing financial difficulties."

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      UNSTOPPABLE: The meteoric rise of Bitcoin has made it attractive for hackers

      Bitcoin's soaring price, which shows no sign of slowing down, is making it increasingly attractive to hackers in North Korea.

      Ashley said: "Before when we tracked nation-state attackers, they usually perform cyberattacks which are aimed for confidential data and intelligence."

      But she said more recently Advanced Persistent Threat groups — who carry out continual hacking attacks on organisations and countries — were targeting banks and Bitcoin institutions.

      She also warned that as long as Bitcoin's price is high, the hacking attacks will continue.

      Last week it was announced that McDonald's is predicted to start accepting Bitcoins by 2019.

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