Upbit’s $32 Million Mystery Theft Points Toward Lazarus Group

India is currently reviewing its Virtual Digital Assets (VDA) framework to enhance investor protections and align local regulations with global standards. This review is part of a broader effort to reinforce the digital asset infrastructure in the country without implementing sweeping changes.

Upbit, South Korea's largest cryptocurrency exchange, has initiated an accelerated security overhaul following a cyberattack that resulted in the unauthorized withdrawal of approximately $36 million from its Solana network. The exchange has temporarily suspended all deposits and withdrawals as investigations continue into the breach, which authorities suspect is linked to North Korea's Lazarus Group.

A fire caused by an electrical failure at Greenidge's bitcoin mining facility in Dresden, New York, has halted operations, impacting the site that utilizes NYDIG hardware. The incident led to a temporary shutdown of both generation and data center activities, raising concerns about operational safety and continuity.

Upbit, South Korea's largest cryptocurrency exchange, has reported a significant hack resulting in the unauthorized withdrawal of approximately $36 million in assets from its Solana network. The exchange has suspended all deposits and withdrawals while an investigation is underway, with authorities suspecting the involvement of North Korea's Lazarus Group in the breach.

Upbit, South Korea's largest cryptocurrency exchange, has reported a significant security breach, with approximately $30–32 million in digital assets stolen from a hot wallet. Authorities suspect that North Korea's Lazarus Group is behind the attack, marking a severe security crisis for the exchange.

Switzerland's Federal Council has announced a delay in the automatic exchange of cryptocurrency account data with foreign tax authorities until at least January 2027, despite plans to implement new rules in 2025. This postponement affects the global framework for crypto tax reporting, which is crucial for international compliance.

South Korea's Financial Services Commission (FSC) has expanded its travel rule, enhancing oversight of cryptocurrency transactions to ensure compliance with anti-money laundering (AML) regulations. This move aims to bolster the integrity of the financial system amid rising concerns over illicit activities in the crypto space.

Upbit, South Korea's largest cryptocurrency exchange, reported a corporate loss of 5.9 billion won due to a recent hack, but has assured users that it will fully reimburse the 38.6 billion won in member assets from its reserves. This incident highlights ongoing security challenges in the cryptocurrency sector.