North Korean Hackers Behind 2019 Ethereum Heist, South Korean Police Say

SEOUL– South Korean police have confirmed that hackers linked to North Korea’s military intelligence agency were behind the 2019 heist of Ethereum worth approximately 58 billion won ($41.5 million). The National Police Agency’s investigation revealed that the stolen assets were laundered using a complex network of crypto exchanges.

More than half of the stolen funds were funneled through three cryptocurrency exchanges created by the hackers themselves, offering discounts for Bitcoin transactions. The remaining assets were laundered across 51 additional platforms. This revelation highlights the growing role of cryptocurrency in state-sponsored cybercrime and raises concerns about the security of digital asset exchanges globally.

The heist, which took place in 2019, is one of several high-profile cybercrimes attributed to North Korea, which has been accused of using stolen funds to support its regime.