As reported by BitcoinWorld, South Korean exchange Upbit confirmed a $40 million hot wallet theft, with unauthorized withdrawals totaling 54 billion won. The breach targeted assets on the Solana network, but user funds in cold storage remained unaffected. Upbit acted swiftly to contain the breach, ensuring customer assets were secure. The exchange emphasized its layered security protocols, including cold storage protection, insurance coverage, and transparent communication. Users are advised to adopt best practices such as using hardware wallets and enabling two-factor authentication.
Upbit Hot Wallet Theft: $40M Stolen, Cold Storage Remains Secure
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