A new report from Recorded Future, a cybersecurity company, suggests that North Korean hackers were responsible for recent attacks on coin exchanges and wallets. The report details how malware which was used in the cyberattacks was very similar to viruses previously used to attack Sony Pictures, and as part of the WannaCry ransomware attack which affected many countries around the world.

The malware used in the latest attack was allegedly created between October and November 2017 by the Lazarus hacking group, which has been previously linked to North Korea. It is believed that the latest attack was launched in response to the rapid gains in value bitcoin experienced in late 2017. The report does not detail if the attacks were successful. However, a number of attacks on South Korean exchanges in the summer of 2017 resulted in the theft of thousands of bitcoins.

North Korea has denied that it had any involvement in the cyberattacks. However, the fact that cryptocurrencies operate independently of any government or bank makes the technology very appealing to the North Korean regime, which is facing tough international sanctions as a result of its recent missile tests and nuclear development program. By accessing bitcoin or other forms of cryptocurrency, North Korea could potentially circumvent controls which limit foreign currency from entering the country.