Upbit faced disruption early Thursday after a major security breach drained cryptocurrencies worth about ₩54B into an unknown external wallet. The exchange paused deposits and withdrawals after cryptocurrencies worth about ₩54B were transferred to an unidentified external wallet.
Besides confirming the timing of the incident at around 4:42 a.m. local time, the platform listed affected tokens including SOL, 2Z, ACS, BONK, DOOD, DRIFT, HUMA, IO, JTO, JUP, LAYER, ME, MEW, MOODENG, ORCA, PENGU, PYTH, RAY, RENDER, SONIC, SOON, TRUMP, USDC and W. Upbit noted that this movement did not match any authorized activity on its systems.
Moreover, the exchange stated that it immediately moved all user assets into a secure cold wallet. It added that this prevented further losses and allowed teams to focus on containing the breach. Upbit also confirmed the successful freezing of about $8.18M worth of LAYER tokens during the initial response.
Consequently, the company reassured customers that no personal losses would occur. It emphasized that reserve assets will cover any damage linked to the unauthorized withdrawals. This announcement became central to calming users as investigations into the attack continued.
Upbit Strengthens Response As Probe Into Solana-Based Breach Expands
According to the exchange, cooperation with project teams and authorities remains active while efforts continue to freeze the remaining stolen tokens. It explained that recovery attempts are ongoing and that more updates will follow once verified information becomes available.
Additionally, Upbit highlighted that its security structure helped isolate the issue quickly. It said that early detection allowed the team to restrict the movement of several assets and limit the impact of the breach on users.
Moreover, industry observers noted that the response from Upbit arrived at a crucial point for South Korea’s digital asset market. Confidence remains essential for traders, hence the containment steps taken by the exchange drew significant attention.
Furthermore, the exchange stated that identifying the point of entry remains a priority. It added that technical teams and external partners are working together to trace the wallet that received the stolen funds.
Upbit continues to restore normal operations while managing the investigation into the ₩54B theft. It expects ongoing cooperation with authorities and ecosystem partners to support asset recovery and strengthen protective measures.