The South Korean police confirmed that the theft of 342,000 ETH from Upbit was carried out by a North Korean hacker organization.
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.
The South Korean police confirmed that the theft of 342,000 ETH from Upbit was carried out by a North Korean hacker organization.
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.
