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Lazarus Group Linked to $30 Million Upbit Hack: Report - Unchained
South Korean authorities suspect North Korea’s Lazarus Group of orchestrating a $30 million cryptocurrency theft from Upbit, the country’s largest crypto exchange, via an exploit on its Solana hot wallet.
According to a report from Yonhap News, South Korean authorities believe that Lazarus was behind the attack and plan to carry out an on-site investigation. Insiders say the technique used in this particular attack resembles the methods used in a 2019 hack.
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The breach occurred early on Thursday, when assets worth about $30 million were transferred to an unauthorized address, prompting Upbit to suspend deposits and withdrawals.
The theft involved sophisticated multichain laundering techniques, including rapid conversions of SOL into ETH across multiple wallets.
Upbit’s operator Dunamu pledged full customer reimbursement using company funds, with some stolen tokens like $8.18 million worth of LAYER already frozen.