Authorities in South Korea have recovered 4.8 Bitcoin (BTC), which was stolen during the 2019 hack of the Upbit exchange. The hackers were North Korean groups Lazarus and Andariel, who are known for large-scale cybercrime. The stolen Ethereum, worth $41.4 million in 2019, is now valued at over $1 billion.
The investigation confirmed the hackers laundered 57% of the stolen ETH by converting it into Bitcoin, which flowed through three North Korea-linked exchanges and 51 global platforms. South Korea’s Financial Intelligence Unit (FIU) is scrutinizing Upbit for Kyc-related violations, while the Financial Services Commission (FSC) has expressed concern over the exchange’s market dominance.