Upbit hackers used tax haven exchange to launder stolen funds, KBS reports

Hackers who stole 44.5 billion won (approximately $32.2 million) in cryptocurrency from the South Korean exchange Upbit last month used a small exchange based in a tax haven to launder the funds, KBS reported exclusively. The perpetrators reportedly processed the stolen assets through Godex, an unlicensed platform based in Seychelles that allows users to conceal their identities as beneficial owners. In a separate report, KBS also stated that Upbit had requested that Binance freeze 470 million won (about $340,000) worth of Solana (SOL). However, Binance delayed the action for approximately 15 hours, citing a need for further fact-checking, and ultimately froze only 80 million won (about $58,000) worth of the assets.