DPRK mined (or stole) 11,000 bitcoins in 2017

The DPRK have been very busy in 2017, mining or stealing an estimated 11,000 bitcoins worth an estimated $200 million USD. There have been numerous reports of South Korean based BitCoin exchanges being hacked or compromised through social engineering attacks, aimed at infiltrating the seemingly secure network perimeters.

What is a Bitcoin?

Named in homage to bitcoin's creator, a satoshi is the smallest amount within bitcoin representing 0.00000001 bitcoin, one hundred millionth of a bitcoin. While wallets are often described as a place to hold or store bitcoins, due to the nature of the system, bitcoins are inseparable from the blockchain transaction ledger. Ownership of bitcoins implies that a user can spend bitcoins associated with a specific address. Bitcoin creator Satoshi Nakamoto designed bitcoin not to need a central authority. Bitcoin is pseudonymous, meaning that funds are not tied to real-world entities but rather bitcoin addresses.