Upbit Restores Services Post-Theft with Enhanced Security
South Korean exchange Upbit will begin restoring deposit and withdrawal functions at 1 PM on December 1, 2025, prioritizing secure network assets like Akash Network’s AKT and Ethereum tokens. This restoration follows a $36.8 million Solana theft, highlighting Upbit's enhanced security measures and financial commitments, impacting investors and asset recovery efforts.
Security Enhancements and Wallet Updates
The South Korean exchange, Upbit, announced the gradual restoration of deposit and withdrawal functionalities. The process begins with network assets like Akash Network's AKT and major Ethereum tokens. Security audits have cleared these assets for reactivation.
Wallet system updates necessitate new deposit addresses across all assets. This change addresses vulnerabilities exposed during the $36.8 million theft. The exchange's operator, Dunamu, ensures user funds' safety through enhanced security measures.
"To prevent any damage to member assets, the entire amount will be covered by Upbit's holdings," following the Solana breach.
Market Performance and Regulatory Landscape
Coinciding with a similar breach six years prior, Upbit's ongoing security enhancements reveal consistent challenges in managing hot wallets.
As of November 30, 2025, Akash Network's AKT trades at $0.50, with a market cap of 140,857,415 and a fully diluted market cap of 193,243,388. Despite a 29.82% drop over 30 days, its seven-day change is slightly positive at 0.15%.
Increased regulation may impose stricter compliance on exchanges, potentially affecting user registration processes. Technological advancements can enhance wallet security against hacker groups and boost investor trust in the crypto ecosystem.