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South Korean authorities succeeded in recovering 4.8 Bitcoin (Bitcoin), which has been linked to the 2019 hack of Obit Exchange, local media Yonhap News I mentioned On November 21.
The incident in which North Korean hackers stole $342,000 Ethereum (ETH), among the most important cyber attacks targeting the cryptocurrency platform. The stolen Ethereum, which was worth $41.4 million in 2019, is worth more than $1 billion at current prices.
Investigation
An investigation by the South Korean National Police Agency confirmed the involvement of North Korean hacking groups Lazarus And Andariel in the 2019 Upbit hack. These groups are famous for Cybercrime is widespread They stole more than $3 billion in cryptocurrencies from 2017 to 2023.
The confirmation marks the first time South Korean police have officially linked a major hacking operation to North Korean agents.
The police explained that the hackers laundered 57% of the stolen ETH by converting it into Bitcoin. The money flowed through three North Korea-linked exchanges and 51 global platforms.
After years of tracking blockchain activity and analyzing North Korean IP addresses, investigators identified patterns, including the unique use of the North Korean language. Support from the US Federal Bureau of Investigation (FBI) also contributed to uncovering the hackers’ operations.
The recovered bitcoin, which was traced to a Swiss exchange, was returned to Upbit.
Top checking
This development comes as Upbit is under scrutiny by South Korea’s Financial Intelligence Unit (FIU). KYC related violations. The Financial Intelligence Unit reported that the exchange may be involved in as many as 600,000 compliance violations.
South Korea’s Financial Services Commission (FSC) also made the reference Concerns about Upbit’s market dominance. The stock market represents nearly 20% of the 22 trillion won deposited at K Bank, raising questions about potential risks to the financial system.
According to CoinMarketCap DataUpbit is the largest cryptocurrency exchange in South Korea, with a trading volume of about $6 billion.
