South Korean police confirm that North Korean hacker group is related to the theft of 342,000 ETH from Upbit in 2019

Odaily News For the first time, South Korean police officially confirmed that the 342,000 ETH (worth 58 billion won at the time and now worth about 1.47 trillion won) stolen from Upbit in 2019 was the work of North Korean hacker groups Lazarus and Andariel. This conclusion is based on data from North Korean IP addresses, the flow of crypto assets, traces of North Korean vocabulary use, and investigations in cooperation with the US FBI. 57% of the stolen ETH was exchanged for BTC at a price 2.5% below the market price through three suspected money laundering platforms opened by North Korea, and the remaining assets were dispersed and laundered through 51 overseas exchanges. In 2020, the police discovered that some of the stolen BTC were stored in a Swiss exchange, and after four years of efforts, they successfully recovered 4.8 BTC (about 600 million won) in October this year and returned them to Upbit. (Yonhap News Agency)