Revealed, 342,000 Ethereum Thieves From Upbit In 2019!

Ethereum crypto asset (Photo; Doc. Invezz)

JAKARTA - South Korean authorities finally uncovered the mastermind behind the major hack that hit the Upbit crypto exchange in 2019. Based on the results of the investigation, North Korean hacker groups, including Lazarus and Andariel, were confirmed to be behind the theft of US$342,000 (ETH) worth around US$50 million (Rp790 billion at that time). This is the first time South Korean authorities have firmly linked digital attacks to the North Korean regime.

Investigations involving the South Korea National Investigation Agency and the United States FBI found that hacker groups used advanced methods to infiltrate the hot wallet Upbit system, where operational funds were stored. From tracking results, about 57 percent of the stolen ETH has been sold on crypto exchanges believed to be run by North Korea, while the rest are diverted through 51 foreign exchanges to hide traces.

Lazarus Group sendiri dikenal luas sebagai pelaku di balik berbagai kejahatan dunia maya besar, termasuk serangan ransomware WannaCry dan pencurian $620 juta (Rp9,8 triliun) dari jaringan Ronin Axie Infinity pada 2022.

In the midst of this confirmation, Upbit is also under intense scrutiny by South Korean regulators. The Financial Intelligence Unit found more than 600,000 violations of Know Your Customer (KYC) by Upbit, including the use of unclear identity documents. These violations could result in fines of up to $71,500 per case and threaten to renew their operational licenses.