Upbit Detects $36 Million Abnormal Withdrawal on Solana Network

Upbit, South Korea's largest cryptocurrency exchange, detected an abnormal withdrawal of approximately 54 billion KRW ($36 million) in Solana network assets on Nov. 27 at 4:42 a.m., with tokens including 2Z, ACS, BONK, DOOD, TRUMP, USDC, and W transferred to unknown external wallets, according to the platform's disclosure. The exchange has suspended Solana network deposits and withdrawals and pledged to cover all customer losses. This marks Upbit's second major incident following a Nov. 27, 2019 hot wallet breach that transferred 342,000 ETH worth approximately $50 million to unknown addresses, allegedly linked to North Korea's Lazarus Group. Bithumb, the country's second-largest exchange, has also suffered multiple breaches since February 2017, including a June 2018 hot wallet intrusion resulting in approximately $32 million in losses.