South Korean authorities have confirmed the involvement of a group linked to North Korea’s military intelligence in a major cryptocurrency theft in 2019.

The National Police Agency reported that ethereum worth approximately 58 billion won (US$41.4 million) at the time was siphoned.

The stolen ethereum was laundered through both self-established channels and various other crypto exchanges.

Although the specific exchange compromised was not named, Upbit, a South Korea-based platform, reported a similar incident in 2019.

Police noted that hackers infiltrated the exchange’s reserves, resulting in the theft of 342,000 ethereum tokens. Those tokens are now valued at over 1.4 trillion won (US$1 billion).

Local media suggest the hackers are affiliated with the Lazarus and Andariel groups. These groups are linked to North Korea’s Reconnaissance General Bureau.