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Upbit Confirms ₩54 Billion Solana Token Theft, Authorities Probe Possible Lazarus Group Link

Upbit Confirms ₩54 Billion Solana Token Theft, Authorities Probe Possible Lazarus Group Link

Upbit fully reimbursed customers after freezing ₩2.6 billion in stolen assets, restoring services following the ₩54 billion Solana theft under investigation for possible Lazarus Group ties.

SOL

Summary

Upbit froze approximately ₩2.6 billion ($1.77 million) in compromised assets traced from the ₩54 billion ($36.8 million) Solana token theft, using its on-chain tracking system to follow funds sent to external wallets. The exchange fully compensated affected customers and restored deposit and withdrawal services on December 6, following security upgrades and the deletion of previous deposit addresses. Authorities continue to investigate potential links between the theft and the North Korea-affiliated Lazarus Group.

Terms & Concepts
  • Solana: A high-performance blockchain platform known for fast transaction speeds and low fees.
  • Hot wallet: An online cryptocurrency wallet connected to the internet, used for storing and transferring assets but more vulnerable to hacks.
  • Lazarus Group: A cybercrime group linked to North Korea’s intelligence agency, known for carrying out high-profile cryptocurrency thefts.