Upgraded from Preliminary Inquiry to Formal Investigation
Large-Scale Virtual Asset Leak Incident
Police: "Investigation Still in Early Stages, No Suspects Identified"
Hacking Group under North Korea’s Reconnaissance General Bureau Strongly Suspected
The police have launched a full-scale investigation into a hacking incident involving 44.5 billion won at Upbit, the largest virtual asset exchange in South Korea.
On December 5, the Cyber Terror Response Division of the National Office of Investigation at the National Police Agency announced that it has upgraded the case, which had been under preliminary inquiry, to a formal investigation.
This incident occurred on November 27, when a large amount of virtual assets was leaked externally from Upbit. The police became aware of the hacking through media reports on the day of the incident and immediately responded by conducting an on-site investigation at the headquarters of Dunamu, the operator of Upbit.
According to the information and communications technology industry and authorities, the hacking group 'Lazarus,' which operates under North Korea’s Reconnaissance General Bureau, is being strongly suspected as the perpetrator. However, a police official stated, "The investigation is still in its early stages, and no suspects have been specifically identified at this point."
The police have previously uncovered North Korea's involvement in past hacking incidents targeting Upbit. In connection with the 2019 case, where approximately 58 billion won worth of virtual assets were stolen from Upbit, the National Office of Investigation officially announced last year that, after five years of investigation, hacker groups 'Lazarus' and 'Andariel,' both affiliated with North Korea’s Reconnaissance General Bureau, were involved in the crime.
As similar methods have been detected in the current case, investigative authorities are expected to closely examine any possible links to the previous incidents.
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