COINOTAG News reported on November 28 that CryptoQuant CEO Ki Young Ju weighed in on the Upbit incident, framing it as a high-profile breach that demands careful attribution and risk awareness for crypto markets.

In his assessment, he signaled that the Lazarus Group, the North Korea–linked hacking collective, would be the most plausible masterminds if the attribution holds, underscoring persistent geopolitical risk to crypto infrastructure.

Upbit revealed a security vulnerability that enabled inference of the private key, underscoring the critical need for robust key management and transparent vulnerability disclosure among digital-asset exchanges.