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Upbit Halts Transfers After Solana Hot-Wallet Breach, Loss Revised to 44.5 Billion Won

Upbit says it will use company funds to fully reimburse customers during the regulatory on-site inspection.

Overview

  • Dunamu confirmed at 4:42 a.m. local time that Solana-linked assets were moved to an unauthorized address, saying the incident was limited to a hot wallet and cold wallets were unaffected.
  • Deposits and withdrawals are suspended as remaining funds are placed in cold storage and a systemwide security review is conducted.
  • The initially cited loss of about 54 billion won was updated to roughly 44.5 billion won based on the prices of affected assets at the time of the transfers.
  • Multiple Solana tokens—including SOL, USDC, BONK, JTO, SONIC, and RAY—were among those moved, and on-chain actions have frozen part of the haul, with reports ranging from about 2.3 billion to 12 billion won in Solayer tokens.
  • Financial authorities have launched an on-site inspection while Upbit works with token issuers and law enforcement, a turn of events that followed Dunamu’s stock-swap deal announcement with Naver Financial.