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Marine Chain Turned Out to Be North Korean Crypto Scam

  • North Korea concocted a crypto scam in order to provide funds for totalitarian regime. Marine Chain is actually bogus website that is meant to lure in gullible investors

Cover image via U.Today

A recently published report by cybersecurity firm Recorded Future suggests that North Korea concocted a cryptocurrency scam in order to provide funds for the country’s totalitarian regime. Marine Chain, marketed as a Blockchain-powered maritime investment marketplace, is actually a bogus website that is meant to lure in gullible investors.

The report concludes that Marine Chain is just a blatant copy of a real website (www.shipowner.io), and one of its IP addresses was previously connected to yet another investment scam. After digging even deeper, it was revealed that the company’s CEO would help North Korea to circumvent Western sanctions. Hence, one can make an obvious conclusion that the raised funds could go directly to Kim Jong-un.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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