South Korean police have announced that North Korea is behind the theft of 342,000 ETH from the Upbit exchange in November 2019. This marks the first time South Korea has confirmed North Korea as an illicit actor in a cryptocurrency theft case. The police reached this conclusion by analyzing evidence including North Korean IP addresses, virtual asset flows, and the use of North Korean terminology, in collaboration with the FBI over a long-term partnership. The stolen ETH was valued at approximately 41.50 million USD at the time and has now exceeded 1 billion USD. About 57% of the stolen ETH was converted to Bitcoin, while the remainder was transferred to 51 overseas exchanges for laundering. South Korean police, in cooperation with Swiss authorities, have recovered 4.80 BTC. The FBI had previously confirmed North Korean hackers' involvement in several major cryptocurrency theft cases and warned that they are actively targeting employees in the Web3 industry.

Odaily Planet Daily reported that South Korean police have officially confirmed for the first time that the 342 thousand ETH stolen from Upbit in 2019 (worth 58 billion Korean won at the time, currently valued at approximately 1.47 trillion Korean won) was perpetrated by the North Korean hacker groups Lazarus and Andariel.
This conclusion is based on data derived from North Korean IP addresses, the flow of cryptocurrency assets, traces of North Korean vocabulary usage, and investigations conducted in cooperation with the FBI.
Of the stolen ETH, 57% was exchanged for BTC at a price 2.5% below market value through three suspected money laundering platforms established in North Korea, while the remaining assets were dispersed and laundered through 51 overseas exchanges.
In 2020, police discovered that part of the stolen BTC was stored in a Swiss exchange, and after four years of effort, successfully recovered 4.8 BTC (approximately 600 million Korean won) this October and returned it to Upbit. (Yonhap News)

Odaily Planet Daily reported that South Korean police have officially confirmed for the first time that the 342,000 ETH stolen from Upbit in 2019 (worth 58 billion KRW at the time, now approximately 1.47 trillion KRW) was attributed to the North Korean hacker groups Lazarus and Andariel. This conclusion is based on evidence from North Korean IP addresses, the flow of cryptocurrency assets, traces of North Korean vocabulary usage, and data obtained from investigations conducted in cooperation with the FBI.

Of the stolen ETH, 57% was exchanged for BTC at a price 2.5% below market value through three suspected money laundering platforms established by North Korea, while the remaining assets were dispersed and laundered through 51 overseas exchanges. In 2020, police discovered that some of the stolen BTC was stored in a Swiss exchange, and after four years of efforts, they successfully recovered 4.8 BTC (approximately 600 million KRW) in October of this year and returned it to Upbit. (Yonhap News)

South Korean police confirm that a North Korean hacking group is related to the theft of 342,000 ETH from Upbit in 2019.

According to BlockBeats, on November 21, the Korean News Agency reported that North Korea stole $42 million worth of Ethereum from Upbit. The Korean National Police Agency stated that the North Korean state-funded hacker groups Lazarus and Andariel were involved in the theft of 342,000 Ethereum from the cryptocurrency exchange Upbit in November 2019.

Yonhap News Agency: North Korean hackers stole $42 million worth of Ethereum from Upbit in 2018.

In November 2019, the National Police Agency of South Korea stated that the North Korean state-sponsored hacking organizations Lazarus and Andariel were involved in the theft of 342,000 Ethereum from the cryptocurrency exchange Upbit, worth 42 million dollars.

BlockBeats News, November 21st, according to Yonhap News Agency, North Korea stole $42 million worth of Ethereum from Upbit. The South Korean National Police Agency stated that North Korea's state-sponsored hacker groups Lazarus and Andariel were involved in the November 2019 theft of 342,000 Ethereum from the cryptocurrency exchange Upbit.

North Korean hackers stole 42 million dollars worth of Ethereum from Upbit.

PANews reported on November 21 that South Korean police have officially confirmed for the first time that the 342,000 Ethereum stolen from the South Korean cryptocurrency exchange Upbit in 2019 (worth 58 billion KRW at the time, now valued at approximately 1.47 trillion KRW) was the work of North Korean hacker organizations.
The police indicated that the "Lazarus" and "Andariel" hacker groups, which are under the North Korean Reconnaissance General Bureau, were involved in the attack. This conclusion was drawn based on evidence such as North Korean IP addresses, the flow of encrypted assets, traces of North Korean vocabulary usage, and data obtained from investigations in cooperation with the FBI.
Of the stolen Ethereum, 57% was exchanged for Bitcoin at a price 2.5% below the market rate through three suspected money laundering platforms set up by North Korea, while the remaining assets were dispersed and laundered through 51 overseas exchanges. In 2020, police discovered that part of the stolen Bitcoin was stored in a Swiss exchange, and after four years of effort, they successfully recovered 4.8 Bitcoin (approximately 600 million KRW) in October this year and returned it to Upbit.

PANews reported on November 21 that South Korean police have officially confirmed for the first time that the theft of 342,000 Ethereum from the South Korean cryptocurrency exchange Upbit in 2019 (valued at 58 billion won at the time, currently valued at about 1.47 trillion won) was carried out by a North Korean hacking organization.

The police pointed out that the hacking groups "Lazarus" and "Andariel," which are under the North Korean Reconnaissance General Bureau, were involved in the attack. This conclusion was drawn from evidence such as North Korean IP addresses, the flow of encrypted assets, traces of North Korean vocabulary usage, and data obtained from investigations in cooperation with the FBI.

Of the stolen Ethereum, 57% was exchanged for Bitcoin at a price 2.5% below market value through three suspected money laundering platforms set up by North Korea, while the remaining assets were dispersed and laundered through 51 overseas exchanges. In 2020, police discovered that some of the stolen Bitcoin was stored in a Swiss exchange, and after four years of efforts, they successfully recovered 0.48 Bitcoin (about 600 million won) in October this year and returned it to Upbit.

South Korean police confirm North Korea's involvement in the 2019 Upbit theft of 58 billion Korean Won worth of Ethereum.

South Korean police confirmed for the first time that 342,000 ETH was stolen from Upbit, South Korea's largest exchange, in 2019 by North Korean official hacker groups Lazarus and Andariel. 57% of ETH was exchanged for Bitcoin at a low price, and the rest of the assets were laundered through 51 overseas exchanges. After 4 years of tracking, the police recovered 4.8 Bitcoins from a Swiss exchange and returned them to Upbit. 

According to Foresight News, South Korean media reports that the National Investigation Agency of Korea has recently confirmed that the North Korean hacking groups Lazarus and Andariel are related to the Upbit hacking case. This conclusion was drawn based on a combination of data from IP addresses originating in North Korea, cryptocurrency flows, traces of North Korean vocabulary, and data obtained in cooperation with the Federal Bureau of Investigation (FBI). Previously, Upbit was hacked in November 2019, resulting in a loss of approximately 48.50 million dollars in assets.According to Foresight News, South Korean media reports that the National Investigation Agency of Korea has recently confirmed that the North Korean hacking groups Lazarus and Andariel are related to the Upbit hacking case. This conclusion was drawn based on a combination of data from IP addresses originating in North Korea, cryptocurrency flows, traces of North Korean vocabulary, and data obtained in cooperation with the Federal Bureau of Investigation (FBI). Previously, Upbit was hacked in November 2019, resulting in a loss of approximately 48.50 million dollars in assets.

According to Foresight News and reports from South Korean media, the National Investigation Agency of South Korea has recently confirmed that the North Korean hacking groups Lazarus and Andariel are related to the Upbit hacking case. This conclusion is drawn from a combination of data including IP addresses from North Korea, cryptocurrency flows, traces of North Korean vocabulary, and data obtained in collaboration with the Federal Bureau of Investigation (FBI). Previously, Upbit was hacked in November 2019, resulting in a loss of approximately 48.50 million USD in assets.

South Korea's National Investigation Agency: North Korean hacker groups Lazarus and Andariel are related to the Upbit hacking case.

According to reports from the Korean News Agency, South Korean police have confirmed for the first time that the theft of 342 thousand Ethereum from the cryptocurrency exchange Upbit in 2019 was carried out by the North Korean reconnaissance agency's hacker organizations "Lazarus" and "Andariel." The police reached this conclusion through evidence obtained from North Korean IP addresses, the flow of crypto assets, and collaboration with the FBI. Among the stolen Ethereum, 57% was exchanged for Bitcoin at low prices, while the remaining assets were laundered through 51 overseas exchanges. After four years of tracking, the police successfully recovered 4.8 Bitcoin (approximately 600 million Korean Won) from a Swiss exchange and returned it to Upbit.

According to reports from the Korea Herald, South Korean police have confirmed for the first time that the 342,000 Ethereum stolen from the cryptocurrency exchange Upbit in 2019 was the work of the North Korean Reconnaissance General Bureau's hacker groups "Lazarus" and "Andariel." The police reached this conclusion through evidence obtained via North Korean IP addresses, the flow of encrypted assets, and collaboration with the FBI. Of the stolen Ethereum, 57% was exchanged for Bitcoin at low prices, while the remaining assets were laundered through 51 overseas exchanges. After four years of tracking, the police successfully recovered 4.8 Bitcoin (approximately 600 million KRW) from a Swiss exchange and returned it to Upbit.

South Korean police have confirmed for the first time that the hacker who stole 342,000 ETH from Upbit five years ago is from North Korea.

According to Deep Tide TechFlow, South Korean police confirmed for the first time on November 21, 2024, that the theft of 342 thousand ETH from the Upbit exchange in 2019 was carried out by the North Korean hacker groups "Lazarus" and "Andariel" under the Reconnaissance General Bureau. The stolen assets are currently valued at approximately 1.47 trillion Korean Won (about 11.32 billion USD).
The police reached this conclusion by analyzing North Korean IP addresses, the flow of funds, and evidence obtained in cooperation with the FBI. The investigation revealed that the hackers exchanged 57% of the stolen ETH for Bitcoin at a 2.5% discount below market price, while the remaining assets were laundered through 51 overseas exchanges. After four years of tracking, the police successfully recovered 4.8 Bitcoin (approximately 600 million Korean Won) from a Swiss exchange, which has been returned to Upbit.

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According to a report from the Korea Herald, South Korean police confirmed on November 21, 2024, that the theft of 342,000 ETH from the Upbit exchange in 2019 was carried out by the North Korean hacking groups "Lazarus" and "Andariel," which are affiliated with the North Korean Reconnaissance General Bureau. The stolen assets are currently valued at approximately 1.47 trillion KRW (about 11.32 billion USD).
The police reached this conclusion by analyzing North Korean IP addresses, the flow of funds, and evidence obtained in cooperation with the FBI. Investigations revealed that the hackers exchanged 57% of the stolen ETH for Bitcoin at a 2.5% discount below market price, while the remaining assets were laundered through 51 overseas exchanges. After four years of tracking, police successfully recovered 4.8 Bitcoin (approximately 600 million KRW) from a Swiss exchange, which has been returned to Upbit.
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The South Korean police confirmed that the theft of 342,000 ETH from Upbit was carried out by a North Korean hacker organization.

The South Korean police have confirmed that the North Korean hacker groups Lazarus and Andariel were behind the 2019 Upbit theft, stealing 342,000 Ethereum (ETH). The stolen assets were valued at approximately 1.40 trillion Korean Won, of which 57% were exchanged for Bitcoin at a discount and laundered through 51 exchanges. The police successfully recovered 4.8 Bitcoin from a Swiss exchange and returned it to Upbit. This is the first official confirmation of North Korea's involvement in hacking attacks on domestic exchanges. The Lazarus group is known for its sophisticated hacking attacks and has targeted global financial institutions and cryptocurrency exchanges multiple times in recent years.

HIGHLIGHTS South Korean police confirm Lazarus and Andariel groups behind 342,000 ETH theft from Upbit in 2019. 57% of stolen ETH was exchanged for Bitcoin at a discounted rate, laundered via 51 exchanges. Police recover 4.8 BTC from Swiss exchange, returning it to Upbit after four years of investigation. South Korean police confirmed that North Korean hacker Lazarus group and Andariel orchestrated the 2019 theft of 342,000 Ethereum (ETH) from Upbit, South Korea’s largest cryptocurrency exchange. This is the first time authorities have officially acknowledged North Korea's involvement in a domestic exchange hack.

The stolen assets, worth 1.4 trillion won at the current price, flowed through multiple exchanges worldwide. Despite the theft's massive scale, only a small portion was recovered. Specifically, 4.8 Bitcoins were retrieved from a Swiss exchange.
Lazarus and Andariel Steal 342,000 ETH From Upbit
Lazarus and Andariel, North Korea's notorious hacker groups, carried out the 2019 theft of 342,000 ETH from Upbit, South Korean police confirmed. The stolen Ethereum, valued at over 1.4 trillion won (approximately $1 billion), was carefully laundered. According to yna.co report, 57% of the stolen ETH was exchanged for Bitcoin at a 2.5% discount on three exchange sites, likely created by North Korea. Meanwhile, the remaining cryptocurrency flowed through 51 exchanges across 13 countries, including major players in the US and China.

South Korean authorities worked closely with the US FBI and other international agencies to track the stolen assets. Despite many laundered funds being spread across foreign exchanges, the investigation led to a significant recovery. After presenting evidence to Swiss authorities, they successfully recovered 4.8 Bitcoin, worth 600 million won, and returned it to Upbit. This marked a rare instance of recovering stolen funds.

This theft highlights North Korea's increasing reliance on cryptocurrency hacks to fund its activities. The Lazarus Group has led North Korea in carrying out multiple high-profile cyberattacks on top crypto exchanges.

Besides, this report also highlights the growing hacks and scam incidents in the crypto space. For context, the US DOJ has charged five hackers recently for stealing $6.3 million in digital assets.
North Korea's Long History of Crypto Thefts and Global Impact
The Lazarus Group operates as a North Korean state-sponsored cybercrime organization. It carries out sophisticated hacks targeting financial institutions and crypto exchanges globally. The group's operations focus on stealing high-value assets, especially cryptocurrency.

Recently, investigators linked Lazarus to the $238 million Bitcoin theft in August 2023. During this attack, the funds moved across several platforms. Speculation surrounding the group's involvement intensified, as experts analyzed the suspicious transactions.

South Korean police have confirmed that the Lazarus Group is behind the theft of 342,000 ETH from Upbit.

In 2019, South Korea's largest exchange, Upbit, was hacked by the North Korean hacker groups Lazarus and Andariel, resulting in the theft of 342,000 Ethereum (ETH). The South Korean police confirmed this incident for the first time and pointed out that the hackers exchanged 57% of the stolen Ethereum for Bitcoin at very low prices through three cryptocurrency exchanges operated by North Korea, while the remaining funds were laundered and dispersed to 51 exchanges around the world. In October 2020, the police recovered part of the stolen assets on a trading platform in Switzerland and returned 4.8 Bitcoin to Upbit in October of this year.

While new hacking incidents occur in the cryptocurrency sector every day, South Korean police have announced the 2019 hacking incident and those responsible for it for the first time. Accordingly, South Korean police confirmed for the first time that 342,000 Ethereum were stolen from Upbit, South Korea&#039;s largest exchange, by North Korean official hacker groups Lazarus and Andariel in 2019. According to an investigation, the Lazarus and Andariel hacker groups, part of the North Korean Reconnaissance General Bureau, stole 342,000 Ethereum from Upbit in November 2019, local news agency Yonhap reported. Police said the hackers traded 57% of the stolen Ethereum for Bitcoin at a very low price through three crypto exchanges run by North Korea. The rest of the funds were reportedly laundered and distributed across 51 global exchanges. South Korean police added that in October 2020, police found some of the stolen assets on a Swiss trading platform, recovering 4.8 BTC in October of this year and returning it to Upbit. *This is not investment advice.

South Korean police confirm the theft of 342,000 Ethereum from Upbit in 2019.

South Korea has identified North Korea as the perpetrator behind the 342,000 ETH hack from Upbit exchange in November 2019, the country’s national police agency announced Thursday.According to the South Korean police, this is the first instance where the country has identified North Korea as the illicit actor behind a cryptocurrency heist.“[We] reached this conclusion based on a comprehensive analysis of evidence obtained through investigation, including North Korean IP addresses, flow of virtual assets, and the use of North Korean terminology, and data from our long-term collaborative effort with the Federal Bureau of Investigation (FBI)," the statement said.While the statement only referred to the exchange as 'A,' South Korean police confirmed to The Block that the victim was Upbit. The 342,000 ETH stolen in 2019 was worth approximately $41.5 million at the time. Due to the significant increase in ether’s price, the stolen tokens are now worth over $1 billion.Around 57% of the stolen ether was converted into bitcoin at a 2.5% discount via three online exchanges that appear to be established by the attacker, according to the statement. The remainder were sent across 51 overseas exchanges and then laundered.South Korean police, in collaboration with Swiss authorities, returned 4.8 BTC of the stolen funds to Upbit after it traced the cryptocurrency to a Swiss crypto exchange.FBI has previously identified North Korea-backed hackers as the attackers behind several major crypto hacks, including the $100 million hack of Harmony's Horizon bridge and the $600 million hack of Sky Mavis' Ronin Bridge. The agency warned earlier this year that North Korean cybercriminals are "aggressively targeting" employees in the Web3 industry in a persistent effort to steal cryptocurrencies.

South Korean police confirm that North Korea was behind the 2019 Upbit theft of 342,000 ETH.

South Korea has confirmed that the North Korean hacker organizations Lazarus and Andariel are behind the 2019 Upbit hack, which was valued at 50 million USD. Currently, the value of the stolen cryptocurrency has exceeded 1 billion USD.

<img src='https://sosovalue.s3.us-west-2.amazonaws.com/sosovalue/web3image/24/11/21/a5oqttb2oo02.png'/>South Korea said North Korean hackers Lazarus and Andariel were behind the $50 million Upbit hack in 2019, with the stolen crypto now valued at over $1 billion.

South Korea Confirms North Korean Hacker Group Involved in 2019 Upbit Hacking Incident

韩国警方宣布，2019年11月从Upbit交易所盗取的342,000 ETH背后是北韩。这是韩国首次确认北韩在加密货币盗窃案件中是非法行为者。警方通过分析证据，包括北韩的IP地址、虚拟资产流动，以及使用北韩术语，与FBI长期合作得出这一结论。被盗的ETH在当时的价值约为4150万美元，现在已超过10亿美元。大约57%的被盗ETH被转换为比特币，其余部分则被转移到51个海外交易所进行洗钱。韩国警方与瑞士当局合作，已追回4.80 BTC。FBI此前已确认北韩黑客参与了几起重大加密货币盗窃案件，并警告他们正在积极针对Web3行业的员工。

韩国警方确认，2019年Upbit被盗的342,000 ETH是由北朝鲜所为。

韓國警方宣佈，2019年11月從Upbit交易所盜取的342,000 ETH背後是北韓。這是韓國首次確認北韓在加密貨幣盜竊案件中是非法行爲者。警方通過分析證據，包括北韓的IP地址、虛擬資產流動，以及使用北韓術語，與FBI長期合作得出這一結論。被盜的ETH在當時的價值約爲4150萬美元，現在已超過10億美元。大約57%的被盜ETH被轉換爲比特幣，其餘部分則被轉移到51個海外交易所進行洗錢。韓國警方與瑞士當局合作，已追回4.80 BTC。FBI此前已確認北韓黑客參與了幾起重大加密貨幣盜竊案件，並警告他們正在積極針對Web3行業的員工。