South Korea suspects North Korea behind cryptocurrency exchange hack, theft of $30.4M

SEOUL — South Korea suspects a North Korean team may be behind the recent hacking of cryptocurrency exchange Upbit that led to the unauthorized withdrawal of 44.5 billion won ($30.4 million) in cryptocurrencies, the Yonhap News Agency reported on Friday.

South Korean authorities are inspecting Upbit’s systems and suspect a group of hackers affiliated with North Korea’s spy agency, known as the Lazarus Group, were involved in what the exchange called “an abnormal withdrawal,” Yonhap said.

The Lazarus Group has been blamed for a number of crypto heists in recent years, with the US Federal Bureau of Investigation citing North Korea’s cyber operations as “one of the most advanced persistent threats.”

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