Upbit Hit by $38M Unauthorized Withdrawal of Solana Assets
The post Upbit Hit by $38M Unauthorized Withdrawal of Solana Assets appeared on BitcoinEthereumNews.com.
Key Notes Upbit confirmed that multiple tokens were affected, including DeFi and meme tokens. The exchange assured that it will fully compensate users from its own reserves. Upbit operator Dunamu announced a major partnership with Naver and Naver Financial, committing 10 trillion won for the AI and Web3 ecosystem. On Nov. 27, South Korea’s top crypto exchange Upbit revealed an abnormal $38.5 million outflow on the Solana blockchain network. The breach has reportedly affected several tokens, including SOL SOL $143.7 24h volatility: 2.9% Market cap: $80.41 B Vol. 24h: $6.00 B , BONK BONK $0.000010 24h volatility: 1.6% Market cap: $823.00 M Vol. 24h: $119.21 M , USDC USDC $1.00 24h volatility: 0.0% Market cap: $75.94 B Vol. 24h: $5.96 B , RENDER, and others. In order to limit further losses, the exchange has suspended deposits and withdrawals for other Solana-based assets. Upbit Swings Into Action After $38.5 Million Outflow Soon after facing 54 billion KRW ($38.5 million) worth of outflows, crypto exchange Upbit swung into action. The crypto exchange stated that it has initiated emergency inspections to evaluate the impact and strengthen security measures. Between Nov. 26 and 27, 2025, Upbit issued several urgent updates through its customer center detailing each phase of its response. The development took place just ahead of Upbit, preparing for the Nasdaq IPO. As said, the breach has impacted several tokens within the Solana ecosystem. In addition, it has also impacted several DeFi and meme tokens, including Render (RENDER), Pyth Network (PYTH), BONK BONK $0.000010 24h volatility: 1.6% Market cap: $823.00 M Vol. 24h: $119.21 M , Raydium (RAY), Jupiter (JUP), Orca (ORCA), etc. While announcing its compensation plan, the exchange noted: “We have identified the exact amount of digital assets that were leaked, and we will fully cover the loss with Upbit’s own…
Filed under: News - @ November 27, 2025 8:22 am