The largest cryptocurrency exchange in South Korea fell victim to a serious attack. Assets worth nearly 37 million USD were withdrawn from Upbit wallets, mainly from the Solana ecosystem.
• Hackers stole tokens worth 36.8 million USD from Upbit wallets.
• The exchange suspended withdrawals and promised full compensation to users.
Upbit confirms a massive leak of funds
Upbit reported a security breach of its wallets, resulting in the theft of tokens worth 36.8 million USD.
Among the withdrawn assets were memecoins (BONK, MOODENG, TRUMP), DeFi projects (SONIC, ACS, JTO, RAY), as well as SOL and USDC. The exchange immediately suspended withdrawals and assured that it would cover users' losses with its own funds.
A comprehensive audit of all security systems is underway. Deposits and withdrawals will only be restored after the review is completed. Upbit is another platform that has fallen victim to cyberattacks — 2025 brought a record number of breaches. BTCTurk lost 48 million USD, BigONE 27 million USD, and Bybit recorded the largest theft in the history of the industry — 1.4 billion USD.
The situation shows that cybercriminals continue to outpace industry security measures, and the safety of exchanges remains one of the key challenges in the cryptocurrency market.
