Upbit confirmed that it will resume deposits and withdrawals on December 1 following a Solana network exploit that compromised approximately $37 million in assets, including SOL, USDC, and more than 20 additional tokens.

The company moved the remaining funds to cold storage and successfully froze about $8 million in LAYER tokens, representing 22% of the stolen amount. CEO Oh Kyung-seok assured that all losses will be covered using corporate reserves, protecting users.

The service restart will be carried out in phases, starting with verified networks and specific tokens, while each asset undergoes security inspections and is migrated to new deposit addresses, which users must confirm before transacting. Staking and NFT withdrawals will be processed after network stability is verified.

The investigation points to North Korea’s Lazarus Group as a possible culprit, exploiting administrative privileges to execute unauthorized transfers. South Korea’s Financial Supervisory Service continues on-site reviews until December 5, and additional regulatory pressure on the exchange is expected to strengthen security standards.

Source: https://upbit.com/service_center/notice?id=5806&view=share

Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.

This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions.

---

Filed under: News - @ December 1, 2025 5:22 pm