South Korea's Major Exchange Upbit to Compensate for Approximately 4.8 Billion Yen in Illicit Outflows Using Company Assets

24 Tokens Involved in Unauthorized Transfers

On the 27th, Upbit, South Korea's largest cryptocurrency exchange, reported an 'abnormal withdrawal' from its operational hot wallet, resulting in 24 tokens, primarily from the Solana ecosystem, being transferred to external wallets unrelated to the exchange.

The total amount leaked was approximately 44.5 billion won (about 4.8 billion yen) at the time of the incident.

The unauthorized transfers were detected at 4:42 AM on the 27th. Multiple tokens, mainly Solana-based, were moved from the exchange's trading hot wallet to external addresses not associated with the exchange.

Following the detection of the anomaly, Upbit immediately suspended all deposit and withdrawal services and began tightening security across related networks and wallet systems...