27.11.2025
Upbit loses $36 million due to Solana hot wallet hack: exchange security review initiated
Upbit, South Korea's largest cryptocurrency exchange, has experienced a major funds leak: about $36 million worth of assets were withdrawn from its Solana blockchain hot wallet. The incident affected tokens such as Bonk (BONK), Jito (JTO), USD Coin (USDC) and a number of other digital assets.According to the company, the unauthorized transactions were detected within minutes, allowing the attackers to withdraw large amounts of various tokens. Upbit immediately initiated a full security review of all its wallets, temporarily suspending transactions of the affected assets to prevent further losses.The company assured users that their funds in cold wallets remain safe and that all losses will be compensated from the exchange's reserve fund. Close cooperation with law enforcement and cybersecurity experts is underway to track down and recover stolen funds.Upbit is also strengthening its security measures by implementing additional monitoring and authentication protocols to prevent similar incidents in the future. The exchange urges users to exercise caution and follow updates in official support channels.