The Theft of 342,000 Ethereum from Upbit: Confirmation of North Korean Hackers Involvement

user avatar

by Giorgi Kostiuk

2 years ago

South Korean police have officially confirmed that the theft of 342,000 Ethereum (ETH) from the Upbit exchange was carried out by North Korean hacker groups Lazarus and Andariel.

Investigation into Cryptocurrency Theft

Initially, the stolen Ethereum, valued at 58 billion won at the time of theft, was traced using North Korean IP addresses and cryptocurrency transaction flows, with the FBI's involvement.

Recovery of Stolen Ethereum and Bitcoin

According to authorities, more than half of the Ethereum (57%) was exchanged for Bitcoin at a rate lower than market value. The remaining ETH was laundered through 51 overseas exchanges. Over four years of investigation, police managed to recover 4.8 Bitcoin from a Swiss exchange.

Consequences and Current Situation

This confirmation links North Korea to cybercrimes aimed at generating revenue through illicit activities. Police withheld details of the attack methods to prevent future breaches. North Korean language traces were found on hackers' computers.

This confirmation strengthens the belief that North Korea is actively involved in cyberattacks on cryptocurrency exchanges, though attack methods remain confidential to avoid subsequent breaches.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Ripple Prime Expands Institutional Trading with New Derivatives Access

Ripple Prime introduces access to perpetual derivatives referencing traditional assets for eligible institutional clients.

user avatarNguyen Van Long

Pirate Chain Developers Report Major Vulnerability

Pirate Chain developers disclosed a significant vulnerability leading to the creation of approximately 398 million unauthorized ARRR tokens, raising urgent questions about network supply and trust.

user avatarSatoshi Nakamura

Crypto King Aiden Pleterski Faces Criminal Charges Over Misuse of Investor Funds

A Canadian court hears evidence that Aiden Pleterski misused investor funds for personal expenses.

user avatarJesper Sørensen

BinanceUS Seeks $100 Million in Fundraising Round

BinanceUS is reportedly pursuing a $100 million fundraising round at a valuation of approximately $1 billion to strengthen its position in the American cryptocurrency market.

user avatarRajesh Kumar

Consulting Arrangement Raises Questions About Tether and Bo Hines

A reported $63 million consulting arrangement between Tether and Nxum, linked to former White House adviser Bo Hines, has sparked concerns over potential conflicts of interest.

user avatarLucas Weissmann

Arbitrum Engages European Financial Institutions on Blockchain Infrastructure

Arbitrum representatives presented the network's infrastructure and revenue model to European financial institutions managing substantial assets, discussing its commercial potential and the value of blockchain services.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.