Lazarus Group Accused of $30 Million Upbit Hack Amid Merger

South Korean officials have identified the Lazarus Group as the suspected perpetrator behind a major security breach at cryptocurrency exchange Upbit. The attack, which took place on November 27th, 2025, resulted in the theft of approximately $30 million worth of Solana-linked assets from a hot wallet. This incident follows a similar attack on the same date in 2019, raising suspicions regarding Lazarus’s targeting during periods of organizational change.