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
XRP News Today: IMF Cautions That Tokenized Markets Could Face Collapse Without International Cooperation
- IMF warns tokenized markets risk destabilizing flash crashes due to rapid growth and interconnected smart contracts. - XRP highlighted as potential cross-border payment solution but not endorsed, alongside Stellar and Bitcoin-Lightning hybrid models. - Global regulators intensify oversight of tokenized assets, with ESMA, SEC, and central banks addressing governance and liquidity risks. - IMF stresses urgent need for coordinated policy frameworks to prevent fragmentation and systemic vulnerabilities in ev
Solana News Today: Avail's Nexus Mainnet: A Borderless Blockchain Ecosystem
- Avail launches Nexus Mainnet, a cross-chain infrastructure unifying liquidity across Ethereum , Solana , and EVM-compatible chains. - The platform uses intent-solver architecture and Avail DA verification to replace bridges, enabling seamless asset movement and shared liquidity. - Integrations with major chains and partners like Lens Protocol aim to streamline DeFi and trading, while $AVAIL token coordinates cross-chain transactions. - With Infinity Blocks targeting 10 GB blocks, Nexus addresses liquidit
Cardano News Today: ETFs Turn to Alternative Coins While ADA Stumbles and XLM Gains Momentum with ISO Compliance
- Franklin ETF expands holdings to include ADA , XLM, XRP , and others, reflecting institutional altcoin diversification driven by ISO 20022 compliance and SEC-approved rules. - Cardano faces short-term bearish pressure with 31% monthly decline, contrasting Stellar's bullish 2025/2030 price projections ($1.29–$6.19) fueled by RWA and cross-border payment demand. - ISO 20022 adoption (97% payment instructions) positions ADA/XLM as bridges between DeFi and traditional finance, with Ripple's ILP enhancing XLM
AI Crypto Faces a Pivotal Turn: Regulatory Demands Surpass Aspirations in 2025
Trending news
MoreCrypto prices
More
