North Korea's Lazarus Group Suspected of Large-Scale Cryptocurrency Violation by Upbit

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Important points

Upbit, a leading South Korean cryptocurrency exchange, was stolen from a hot wallet on the Solana network.
After the fraudulent remittances were discovered, deposits and withdrawals were suspended.

North Korean hacker group Lazarus is suspected of orchestrating the theft of approximately 45 billion won ($30.6 million) worth of virtual currency, targeting South Korea’s largest virtual currency exchange, Upbit. Authorities have begun an on-site investigation of the exchange following the violation.

Lazarus Group has previously targeted crypto platforms to fund regime activities through similar exchange exploits.

Upbit has suspended all deposits and withdrawals after funds were leaked from Solana Network’s hot wallet due to fraudulent transfers. The exchange promised to compensate affected users using company-owned assets.