North Korean hackers have been identified by South Korean police as the culprits behind a significant Ethereum heist in 2019, resulting in a loss of around $42 million.

During the investigation, it was discovered that the hackers transferred 58 billion won worth of Ethereum to an unknown wallet, raising concerns about the security of digital assets.

The Upbit exchange, which is based in South Korea, played a crucial role in detecting the suspicious transfer during the incident. This finding highlights the ongoing issues surrounding cybercrime and the involvement of state-sponsored actors in high-profile financial thefts.