South Korean cryptocurrency exchange Upbit has pledged full reimbursement to customers following a significant $37 million loss due to hacking linked to the Lazarus Group, a notorious North Korean hacking syndicate. The incident impacted users globally and raised concerns about security vulnerabilities within centralized exchanges. 100% reimbursement will be provided from Upbit’s own funds. 44.5 billion won in assets have been stolen, with authorities freezing around 12 billion won to recover the stolen funds. Upbit has halted all deposits and withdrawals in a bid to protect remaining assets. The company aims to reassure customers amid financial strains stemming from this incident. Investigations into the attack, which is believed to be linked to Lazarus Group’s expertise in targeted cyberattacks, are ongoing. The breach underlines the importance of robust security measures for centralized exchanges as calls intensify for improved safeguards.