4 hours ago
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Upbit Hack: $36.9 Million Stolen, North Korean Link Investigated
South Korea's largest crypto exchange, Upbit, is under investigation following a hack resulting in the unauthorized withdrawal of $36.9 million on the Solana (SOL) network. The breach affected over 20 tokens, prompting Upbit to freeze assets as investigations proceed.
Lazarus Group Suspected
- Authorities are exploring North Korean involvement, suspecting the Lazarus Group, linked to previous high-profile crypto heists, as responsible.
- This incident mirrors a 2019 hack attributed to the same group, where 58 billion won in cryptocurrencies were stolen.
- The South Korean National Police Agency has begun an investigation, while Upbit's operator, Dunamu, conducts a detailed examination of the asset outflow.
Security Measures Implemented
- Upon detection of abnormal activity, Upbit suspended deposits and withdrawals to safeguard member assets.
- The exchange moved all remaining assets to cold storage to secure funds and blocked some stolen funds on-chain.
- Deposits and withdrawals will resume after complete security checks, with Dunamu pledging to reimburse any customer losses using business funds.
