Cybersecurity CEO: 'Absolutely' reason to believe North Korea is amassing bitcoin, likely to fund cyberattacks

Cybersecurity CEO: 'Absolutely' reason to believe North Korea is amassing bitcoin, likely to fund cyberattacks
PHOTO: Reuters

North Korea is amassing an ever-growing pile of bitcoin, likely to fund future cyberattacks, a cybersecurity CEO said.

The US government revealed Tuesday that North Korea was behind the debilitating WannaCry hack earlier this year, demanding ransom in bitcoin.

As cyberattacks take aim at larger targets and higher ransoms, and with the price of bitcoin spiking, CrowdStrike CEO George Kurtz said there's "absolutely" reason to believe North Korea has an appreciating pile of bitcoin to fund future attacks.

"They're building a cache of bitcoin, if you think about it. It's an anonymous currency, it can easily bypass any sort of sanctions because there are none on bitcoin, and the value has increased dramatically," Kurtz told CNBC's "Squawk Alley." "It's the perfect currency for North Korea to be hoarding."

The WannaCry attack crippled hospitals, banks and companies around the world, and "highlights the capabilities that North Korea has in cyber," Kurtz said.

"And what we've seen is the increase of capabilities just over the last three years."

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