Lazarus group wey get link to North Korea dey suspect for di Upbit Solana hack wey worth about ~45 billion KRW (30 million dollars)
Security researchers and South Korean authorities suspect say North Korea‑linked Lazarus Group (APT38) don knack about KRW 44.5–45 billion (≈US$30–31M) worth of Solana‑related assets from Upbit on November 27. Dunamu, the Upbit operator, confirm sey unauthorised transfer of KRW 44.5 billion in Solana assets go unknown wallet and tok say dem go pay full loss from company funds to protect customers. The exchange start emergency security review, dey move assets to cold storage, try freeze relevant on‑chain transactions, and order full audit of deposit/withdrawal systems beyond Solana. Cybersecurity firm GoPlus report earlier sey breach exploit hot‑wallet key management and internal network weaknesses while cold wallets remain intact; attackers route assets through multiple DEXs and move some funds (reported SOL transfers to Binance) to launder proceeds. Authorities plan on‑site investigation; South Korean agencies and media flag tactics wey consistent with Lazarus: quick execution, symbolic timing, and professional laundering steps. For traders: the incident directly involve Solana (SOL) liquidity and fit increase short‑term selling pressure or raise withdrawal scrutiny on venues handling SOL. Laundering via DEXs and CEXs fit prompt regulatory action, exchange withdrawal freezes, or delistings for affected tokens. This one still dey evolve — monitor on‑chain movements, centralized exchange behaviour, and official updates before you adjust positions.
Bearish
Short-term: Bearish for SOL. Di-authorized transfer wey don confirm of about KRW 44.5B for Solana assets don reduce available liquidity straight and dey increase selling pressure as dem dey route the stolen funds through DEXs and CEXs. Market people dey often react to high-profile exchange breaches with withdrawals, margin calls and short-term price weakness for the affected asset. Centralized exchanges fit tighten SOL withdrawals for small time or list risky SOL trading pairs, wey go increase volatility. Medium/long-term: Mixed to neutral. Dunamu promise to cover customer losses and the cold wallets wey still intact reduce counterparty risk for Upbit users, fit limit systemic contagion. If regulators and exchanges tighten AML controls, that fit compress illicit flows but e fit also temporarily reduce on-chain liquidity and trading volumes for SOL. Reputational damage to exchange security and repeat state-linked attacks fit weigh down investor sentiment for SOL and the centralized venues wey handle am. Traders suppose monitor on-chain flows, suspicious SOL deposits to exchanges, how Binance/major CEX dey handle flagged funds, and official investigation updates before dem make big directional bets.