Prime Suspect in Upbit Hacker Attack Revealed! Details Here
The North Korea-linked Lazarus Group is suspected to be behind the approximately 44.5 billion won ($30.4 million) cyberattack targeting South Korea's largest cryptocurrency exchange, Upbit.
Lazarus Group May Be Behind $30 Million Hack on Upbit
According to local media reports, government and industry sources say the attack methods and on-chain movements are similar to Lazarus' past operations.
Officials speaking to Yonhap News Agency said that field inspections of Upbit were being prepared amid growing suspicions. The exchange announced Thursday morning that it had detected abnormal outflows of some crypto assets on the Solana network and immediately halted all deposits and withdrawals.
Upbit initially announced losses of 54 billion won ($36.8 million), but later revised that figure down to 44.5 billion won. Authorities noted that the methods used in the attack were similar to the 2019 Upbit hack, further bolstering suspicions of Lazarus. South Korean police confirmed last year that Lazarus was behind the 342,000 ETH stolen from Upbit in 2019.
Authorities say that instead of attacking servers directly, hackers may have taken over administrator accounts or impersonated administrators to approve transfers.
According to data from blockchain analyst Dethective, the wallet associated with the attack began converting SOL holdings into USDC and bridging them to the Ethereum network. This development comes just a day after Naver Financial announced its decision to fully acquire Dunamu, the operator of Upbit.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Taurus’s Twofold Function Accelerates the Integration of Blockchain into Mainstream Finance
- Taurus SA joins Canton Network as a Super Validator, expanding custody services to support $6T+ tokenized assets via the Canton Token Standard. - As a core infrastructure partner, Taurus enhances Canton's security and governance while enabling 24/7 markets and privacy-compliant operations for institutions. - The partnership with Deutsche Bank , Santander , and State Street underscores Taurus's role in bridging traditional finance and blockchain innovation through interoperable, compliant infrastructure.
Web3 Transformation: Efficiency and Regulation Take Precedence Over Privacy Concepts
- Web3 infrastructure prioritizes performance and compliance over theoretical privacy models like garbled circuits and FHE. - Hanyang University's 108 Gb/s PAM-8 receiver advances data center efficiency with 1.95 pJ/bit energy optimization. - Wemade's KRW stablecoin alliance rebuilds trust through regulated infrastructure, avoiding direct stablecoin issuance. - Coinbase's $1.5B Q2 revenue highlights crypto market volatility, emphasizing institutional infrastructure diversification. - Alphabet's $1B+ cloud
Hyperliquid News Today: MUTM Soars by $19M While MegaETH Plummets: Real Performance Outshines Hype in the Evolving Crypto Landscape
- Mutuum Finance (MUTM) raised $19M in Phase 6 presale, with 250% price growth since 2025 launch and 90% allocation completed. - KuCoin secured AUSTRAC and MiCA licenses, expanding compliance reach across 29 EEA countries while acquiring payment firms to strengthen institutional credibility. - Bitcoin surged past $90K amid Fed rate cut speculation, contrasting MegaETH's $1B token sale collapse due to technical failures, highlighting execution risks in volatile markets. - Crypto exchanges pledged $3.19M for
Bitcoin News Update: Triple Bearish Divergence in Bitcoin Suggests ETF Rally May Be Unstable
- Bitcoin trades near $86.6K, down 31.3% from October peak amid $3.5B November ETF outflows and $2B liquidations. - Technical analysis flags "triple bearish divergence" as price hits higher highs while momentum indicators weaken. - Spot Bitcoin ETFs see $238M inflows but face $90K resistance; Ethereum ETFs gain $175M yet ETH remains below $3,000. - Key support at $85K risks accelerating sell-off to $80K, with 50–60% retracement targeting $34,409–$44,100 if bearish pattern completes.
Trending news
MoreCrypto prices
More
