North Korea Behind 2019 Upbit Hack:

South Korean authorities have officially confirmed that North Korean hacker groups #Lazarus and #Andariel were responsible for the $50 million Upbit cryptocurrency hack in 2019. The stolen Ethereum ($ETH ) has since increased in value to over $1 billion.

This marks the first time a South Korean agency has publicly linked #NorthKorea to a cryptocurrency theft. The investigation involved tracking cryptocurrency flows, analyzing IP addresses, and examining language and materials provided by the #FBI .

While the exact hacking methods remain undisclosed to prevent future attacks, the stolen ETH was laundered through various exchanges, with a significant portion sold on exchanges allegedly operated by North Korea.

In addition to this revelation, Upbit is facing scrutiny for potential Know Your Customer (#KYC ) violations, which could result in substantial fines and licensing issues.