Upbit Confirms $37M Hack: Exchange Says It Will Cover Every Lost Dollar

• Upbit detected an abnormal $37M Solana-asset outflow, immediately halting all user transactions.
• Exchange has shifted digital assets into secure cold wallets to block further unauthorized access.
• On-chain freezing efforts began, successfully locking ₩12 billion in LAYER tokens so far.

Upbit, South Korea’s dominant cryptocurrency exchange, has confirmed a security breach resulting in the unauthorized transfer of approximately $37 million (54 billion KRW) in Solana-network assets. The exchange has immediately suspended all deposits and withdrawals on the Solana network while placing its infrastructure under emergency audit.

A Sudden Drain of Assets 

At 4:42 a.m. KST, Upbit’s systems detected an abnormal outflow of a large basket of Solana-ecosystem tokens, including SOL, BONK, JUP, RAY, ORCA, RENDER, PYTH, TRUMP, USDC, and more than a dozen others. These ass…

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