# Upbit $30 Million Hack Update: Authorities Link Breach To North Korean Hackers #SOL #crypto #blockchain #cybersecurity #hack #Upbit #cryptonews #LazarusGroup #SouthKorea #investigation #DeFi #Web3
Who’s Behind the $30 Million Upbit Hack? How Investigators Traced It Back to North Korean Hackers
The latest upbit news reveals that South Korea’s premier cryptocurrency exchange, Upbit, faces intense scrutiny from regulators after a significant breach resulted in the unauthorized withdrawal of around $36.9 million in assets on the Solana (SOL) network. This incident impacted more than 20 tokens and has led Upbit to freeze assets as investigations progress.
North Korean Cyber Threat: The Lazarus Group Connection
Authorities are probing the potential involvement of North Korean hackers in this cyber heist. Reports indicate that the notorious Lazarus Group, closely tied to North Korea’s intelligence agency, may have orchestrated this attack. Upbit characterized the incident as an “abnormal withdrawal,” raising alarms about the sophistication of the cyber operation. The Lazarus Group has become infamous for its connection to numerous high-profile cryptocurrency thefts, with the FBI designating North Korean cyber operations as one of the most formidable threats in the digital landscape.
Interestingly, this attack coincides with the sixth anniversary of a previous significant breach, during which Upbit lost 342,000 Ethereum (ETH) to North Korean hackers. An unnamed government official stated that this latest incident bears striking similarities to a 2019 event, where approximately 58 billion won in cryptocurrencies was also attributed to the Lazarus Group.
Investigation and Security Measures Implemented by Upbit
In response to the breach, the South Korean National Police Agency has initiated an investigation, although further comments from officials remain sparse. Meanwhile, Dunamu, Upbit’s operator, has confirmed that a thorough investigation into the cause and extent of the asset outflow is currently underway.
Upbit’s CEO, Oh Kyung-seok, announced that abnormal withdrawal activity prompted the exchange to immediately suspend all deposit and withdrawal services. He emphasized the company’s commitment to protecting user assets, stating, “We are conducting a comprehensive inspection, prioritizing the protection of member assets.”
Following the detection of unauthorized transactions, Upbit has acted swiftly to freeze the affected funds wherever feasible. To thwart any additional unauthorized transfers, the exchange has transferred all remaining assets to cold storage, ensuring a secure environment for users’ funds.
Collaboration with Project Teams and Future Steps
Upbit is also collaborating with relevant project teams to freeze assets on-chain. The exchange has already blocked a portion of the stolen funds linked to the cryptocurrency Solayer (LAYER). Deposits and withdrawals will only resume once thorough security checks are completed.
Dunamu has committed to reimbursing customers for any losses incurred due to this breach, utilizing business funds to uphold its promise to users. As the investigation unfolds, it remains to be seen what additional information authorities will disclose in the coming days regarding potential refund deadlines for affected individuals.
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