Important points
- Upbit, a major South Korean cryptocurrency exchange, has had its Solana network hot wallet stolen.
- After the fraudulent remittances were discovered, deposits and withdrawals were suspended.
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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 fraudulent transfers caused funds to be leaked from hot wallets on the Solana network. The exchange promised to compensate affected users using company-owned assets.
