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North Korea’s $1B Crypto Heist: Upbit Hack Explained

  • North Korean hackers stole 342K ETH from Upbit in 2019 and laundered through exchanges in over 51 countries.
  • Investigations by South Korea and the FBI traced crypto trails, recovering only 4.8 BTC from the billion-dollar theft.
  • The heist highlighted weaknesses in crypto systems and the role of state-sponsored cybercrime in bypassing global sanctions.
  • North Korea used laundering techniques and covert exchanges to convert 57% of the stolen funds into Bitcoin.

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