Authorities point to North Korean hacking organization 'Lazarus' as behind Upbit hack
Summary
- The KRW 44.5 billion Upbit hack was attributed to North Korean hacking organization Lazarus.
- Lazarus is said to have a history of large-scale theft of Ethereum from Upbit in 2019.
- Security industry analysts said the attack is characterized by North Korea's aim to secure foreign currency and its linkage to the timing of the merger issue.
North Korea's hacking group Lazarus has been identified as the party behind the KRW 44.5 billion hack at domestic virtual asset (cryptocurrency) exchange Upbit.
On the 28th, according to the information and communications technology (ICT) industry and government officials, authorities believe it is highly likely that this attack was carried out by Lazarus, a hacking organization under the Reconnaissance General Bureau of North Korea. Lazarus is known as the main perpetrator of the 2019 hacking incident that stole approximately KRW 58 billion worth of Ethereum (ETH) from Upbit.
Security industry analysts say that considering North Korea's recent shortage of foreign currency, it is highly possible that this attack was also carried out as part of efforts to secure foreign currency.
A security expert said, "North Korea-affiliated hackers tend to be showy," adding, "Given that the date of this attack coincided exactly with the merger announcement date (27th) of Naver Financial and Dunamu, it is possible that the timing was intentionally chosen."
Doohyun Hwang
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