North Korean Hackers Behind $1 Billion Ethereum Heist

South Korean police confirmed North Korean military intelligence-linked hackers were responsible for the 2019 Ethereum heist. The stolen assets, initially valued at 58 billion won, are now worth 1.4 trillion won. Over half were laundered through exchanges created by the hackers, with police investigations involving the FBI.

South Korean police have revealed that hackers associated with North Korea's military intelligence were responsible for a major Ethereum cryptocurrency theft in 2019. The Ethereum heist, valued at 58 billion won ($41.5 million) at the time, now stands at a staggering 1.4 trillion won ($1 billion).

The National Police Agency detailed that over half of the stolen assets were laundered through three specialized crypto exchanges established by the hackers themselves. The rest made its way through 51 different exchanges. This marks the first confirmed cyberattack by North Korea on a crypto exchange within South Korea.

Authorities, in collaboration with the FBI, traced the flow of stolen assets using Internet Protocol addresses. Additionally, the United Nations suspected North Korea of executing numerous cyberattacks on cryptocurrency firms from 2017 to 2024. Despite the mounting evidence, North Korea consistently denies involvement in such activities.

(With inputs from agencies.)