The breach occurred as Upbit’s parent company, Dunamu, sealed a $10 billion acquisition deal with Naver and plans an initial public offering in the US.
Update Nov. 27, 9:23 am UTC: This article has been updated to include comments from Trezor CEO Matej Zak.
South Korea’s biggest crypto exchange, Upbit, temporarily froze deposits and withdrawals on Thursday after detecting about $36 million in unauthorized outflows from a Solana-network hot wallet.
In an announcement, the exchange said the suspicious transfers were flagged around 4:42 am local time (7:42 pm UTC), prompting a shutdown of transfer services and a full security review of its supported crypto assets.
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