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

Dolphin Token Listed on Upbit with Three Trading Pairs

Dolphin (POD) has been officially listed on Upbit, one of South Korea's leading cryptocurrency exchanges, with three trading pairs: KRW, BTC, and USDT.

user avatarNguyen Van Long

Optimism Releases Opnode Update to Enhance Sequencer Performance

Optimism has launched a new opnode update aimed at improving the performance of sequencers and preventing configuration errors from causing upgrade issues.

user avatarTando Nkube

Optimism Releases Maintenance Update v250 for Opreth

Optimism has released Opreth version 250, a maintenance update that removes legacy commands and includes important security patches.

user avatarKofi Adjeman

Optimism Releases Maintenance Update for Rust-based Faultproof Stack

Optimism has announced a substantial maintenance release for its Rust-based faultproof stack, known as Kona host v180, which was published on October 1. This update is recommended for all chains and focuses on ensuring that two pieces of verification software derive the same answers from the same chain data.

user avatarRajesh Kumar

Polymath and CineCity Studios Launch Tokenized Film Investment Initiative

Polymath and CineCity Studios announced a collaboration to explore a tokenized film investment platform aimed at connecting independent film productions with investors through regulated digital securities.

user avatarSatoshi Nakamura

WISeKey's New Ticker WQEY Set to Begin Trading

WISeKey's ordinary shares will start trading under the new ticker WQEY on October 5, reflecting the company's new corporate structure following the merger.

user avatarJesper Sørensen

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.