The Bangladesh bank heist of 2016 is still a big mystery in the financial sector. The culprits for this hack were never apprehended. In a new development, the US justice department is pointing the finger of blame at North Korea. Other charges include responsibility for Wannacry 2.0, and the 2014 hit on Sony Pictures Entertainment.

Park Jin Hyok is not a name which rings bells for a lot of people. That is only normal, as he is an alleged North Korean spy. According to the US Justice Department, Park is involved in many different types of online crime over the years. Perhaps the most interesting development is his link to the 2016 Bangladesh bank heist, which resulted in a theft of $81m.

The Bangladesh Bank Heist Story Continues

Although several arrests have been made in regards to this theft, the hack itself still remain unsolved. The Bangladesh bank heist has been linked to Lazarus, a North Korean government-sponsored hacking collective. Park is allegedly one of the members of this outfit, although it remains to be seen if there is sufficient evidence to back up such claims.

Assistant Attorney General Demers adds:

“The Complaint alleges that the North Korean government, through a state-sponsored group, robbed a central bank and citizens of other nations, retaliated against free speech in order to chill it half a world away, and created disruptive malware that indiscriminately affected victims in more than 150 other countries, causing hundreds of millions, if not billions, of dollars’ worth of damage.”

At this time, Park is charged with various counts pertaining to these crimes In the worst case, he faces a 25-year jail sentence. One thing to take into account is how the US and North Korea are not on friendly terms. As such, Park will never stand trial in front of a US court. This makes these charges rather meaningless, unfortunately.


About Author

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.

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