Seoul: North Korean hacking group Lazarus is suspected to be behind a recent breach of around 45 billion won (US$30.6 million) worth of cryptocurrency from South Korea's largest crypto exchange Upbit, sources said Friday. Authorities are preparing to conduct an on-site investigation at the crypto exchange, operating under the assumption that Lazarus orchestrated the hacking incident.

According to Yonhap News Agency, Dunamu, which operates Upbit, confirmed the unauthorized transfer of 44.5 billion won worth of Solana-affiliated assets to an unauthorized wallet address. The company has assured that it plans to cover the full amount with its own assets to mitigate the impact of the breach.