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

Greece Enhances Crypto Tax Transparency Measures

Greece will implement new reporting and documentation requirements for cryptocurrency purchases starting in 2027 to ensure funds come from declared income or lawful sources.

user avatarTomas Novak

Greece Introduces 10% Tax on Crypto Investment Profits

Greece introduces a 10% tax on individual crypto investment gains starting January 1, 2027.

user avatarEmily Carter

Gnosis Pay Implements Enhanced Security Measures Following Breach

Gnosis Pay has implemented enhanced security measures, including 3D Secure for online payments and increased fraud monitoring, following a data breach.

user avatarMaya Lundqvist

Gnosis Pay Reports Data Breach Affecting Customer Information

Gnosis Pay reported a data breach where hackers accessed customer information through its card system, prompting immediate containment measures.

user avatarKaterina Papadopoulou

Ueno Digital Bank Collapse Revives Bitcoin Self-Custody Debate

The collapse of Ueno Digital Bank in Paraguay has sparked renewed discussions about financial independence and self-custody of Bitcoin, highlighting both the benefits and risks associated with managing one's own assets.

user avatarLeo van der Veen

Upcoming Upgrades Could Transform Ethereum Network

Ethereum developers are preparing significant upgrades that could enhance the network's capabilities and security.

user avatarLi Weicheng

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.