According to Bitcoinist, Upbit, one of South Korea’s largest crypto exchanges, reported a $36–37 million loss after a Solana-network hot wallet was emptied on November 27, 2025. The exchange halted Solana deposits and withdrawals and moved remaining assets to cold storage. Dunamu, Upbit’s parent company, pledged to cover the full loss from its own reserves to protect user balances. Blockchain analysts are tracking stolen assets, which include SOL, USDC, and various Solana-ecosystem tokens. Some tokens, like LAYER, have been frozen, but recovery remains uncertain.
Upbit Reports $36M Loss in Solana Network Hack
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