Official statements from Upbit or South Korean law enforcement

South Korea Confirms North Korean Hackers Stole 342,000 ETH Worth $41.5 Million from Upbit

Nov 21, 2024, 05:59 AM

South Korean police have confirmed that North Korean hacker groups, Lazarus and Andariel, were responsible for the theft of 342,000 ETH from Upbit, South Korea's largest cryptocurrency exchange, in 2019. The stolen Ethereum was valued at $41.5 million at the time. Investigations revealed that 57% of the stolen ETH was exchanged for Bitcoin at a low price. The hackers were identified through IP addresses, language analysis, and assistance from the FBI.