📣 South Korea Confirms North Korea Stealing 342,000 Ethereum from Upbit in 2019
✅ Local sources say North Korea is believed to have stolen 342,000 Ethereum from the Upbit exchange in 2019, worth around $41.5 million.
North Korea's Involvement in Upbit 2019 Uncovered
✅ Technical Evidence
South Korean investigators, in coordination with international organizations, have identified the wallet address that received the stolen 342,000 Ethereum as being linked to the Lazarus Group.
Lazarus Group is a notorious North Korean cyberattack group that specializes in using sophisticated techniques such as malware and phishing attacks.
✅ Economic Financing Target
The attack fits into North Korea's strategy of raising funds to fund illicit activities amid international sanctions.
Stolen cryptocurrencies are often laundered through unregulated exchanges or anonymous transactions.
✅ Method of Operation
The hackers breached Upbit's security system using advanced cyberattack tools.
After seizing the assets, the funds were transferred through multiple wallet addresses to cover their tracks and avoid detection.
✅ Challenges for the Cryptocurrency Industry
The incident highlights the need for stronger security measures in the cryptocurrency industry.
It also serves as a warning about the threat of international cyberattacks, which require global cooperation to prevent.
