The United States’ National Security Agency (NSA) has decided to develop a quantum-resistant cryptocurrency.
On Sept. 4, William Turton — Bloomberg Technology reporter — tweeted revealing the plan while attending the Billington CyberSecurity 10th annual summit that was held in Washington D.C.
North Korea malicious use of cryptocurrency
Turton’s tweet displayed only a tiny bit of the agency’s quantum-resistant cryptocurrency project. He wrote on Twitter as follows:
“Anne Neuberger, Director of NSA’s new Cybersecurity Directorate says that the agency will propose hardware and software standards again. Also notes agency is working to build quantum resistant crypto.”
Microsoft News covered additional details about Neuberger’s presentation in a report which showed how the agency is battling with ransomware threats that geopolitical adversaries – like Iran, North Korea, China, and Russia- have posed.
NSA managed to identify nearly 4,000 ransomware attacks on a daily basis — as Neuberger noted — which is a “key concern” especially when the U.S. 2020 presidential elections are around the corner.
According to her, the agency’s newly-established Cybersecurity Directorate will from October concentrate its energy towards mitigating Russia’s influence operations threat as well as China’s cyber-espionage attacks and intellectual property theft.
North Korea has been applying a crafty cyber warfare strategy where President Kim Jong-Un’s rogue regime compiled funds using cryptocurrency to finance various political agendas.
Shadow warfare using crypto
Stealth global intelligence operations and cyber warfare rely extensively on cryptocurrencies. Therefore, any state agency that develops a quantum-resistant cryptocurrency first will give its country a considerable geopolitical edge.
The Department of Justice (DoJ) even charged twelve individuals from Russia’s Main Intelligence Directorate (GRU) units for engaging in illicit activities.
Those personnel from the two units allegedly aided hacking of computer networks linked to U.S. elections-related state boards and technology firms as well as Hillary Clinton’s presidential Democratic Party campaign using cryptocurrency.
In October the same year, the DoJ also levied charges against GRU officers for engaging in crypto-funded global hacking as well as other similar disinformation operations.
A United Nations leaked confidential report earlier this month revealed that the North Korea sanctions committee at the U.N. Security Council had uncovered that North Korean hackers who were hacking banks and cryptocurrency exchanges were able to accumulate about $2 billion.
Per the committee, hackers play a crucial role of funding the regime — allegedly raising funds to support its WMD (weapons of mass destruction) programs and other related activities.
Having affected a number of countries across the world, the Lazarus Group (a North Korean hacking group) managed to achieve a form of notoriety for its malign activities.