Upbit Hack Team Freezes 1.77M in Stolen Assets as Global Recovery Effort Expands 🚨

South Korea’s largest crypto exchange Upbit has successfully frozen 1.77 million dollars in stolen assets as investigators continue tracking funds tied to last month’s major security breach.

🔑 Key Highlights

✅ Upbit freezes 1.77M dollars linked to its recent hack

✅ Exchange fully covered all 26.2M dollars stolen using company reserves

✅ New On chain Tracking Service monitors stolen funds across networks

Why it matters

Upbit confirmed it has frozen 1.77 million dollars worth of compromised tokens linked to the recent hack that forced the exchange into emergency lockdown. Parent company Dunamu said all stolen funds, including 26.2 million dollars directly lost from user wallets, were fully reimbursed using corporate reserves, ensuring no customer losses.

The breach involved nearly 38 million dollars in $SOL based assets, including tokens like TRUMP and Bonk. The attack was detected after abnormal withdrawal patterns were spotted in Solana wallets.

To strengthen security, Upbit deployed its new On chain Tracking Service (OTS), a 24 hour forensic system that traces every movement of withdrawn assets, flags suspicious activity, identifies linked wallets and shares blacklisted addresses with partner exchanges. This collaborative effort enabled exchanges to freeze 1.5 million dollars within the first five hours, which has now grown to 1.77 million dollars.

Upbit also launched a Global Recovery Contribution Program, inviting white hat hackers, security analysts and exchanges to help recover stolen funds. Participants receive 10 percent of any assets successfully frozen or returned.

The exchange has since restored full deposit and withdrawal services after completing a major wallet system upgrade. During the investigation, Upbit identified and fixed a critical security flaw that had enabled the exploit.