Upbit suspends deposits and withdrawals after Solana token theft

The company froze some of the funds and promised to compensate users for their losses.

Upbit suspends withdrawals after $37 million worth of tokens leaked from the Solana network

27.11.2025 - 09:45

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2 min

Key points:

Upbit faced a hacker attack, resulting in the withdrawal of approximately 54 billion won worth of tokens.
The exchange quickly transferred the assets to cold wallets and froze some of the stolen funds.
Users are guaranteed full compensation, and withdrawals will be restored after a security check.

Upbit temporarily suspended the deposit and withdrawal of digital assets after detecting suspicious activity on the Solana network. Early Thursday morning, some of the tokens were transferred to an external wallet that did not belong to the exchange. The total amount of stolen funds was about 54 billion won (approximately $37 million).

Oh Kyoung-seok, CEO of Dunamu, the company that operates Upbit, apologized to users for the inconvenience and said that specialists immediately detected the unusual transactions. The exchange assured customers that it would fully compensate for all losses.

Platform actions

To stop further withdrawals, Upbit promptly transferred the assets to cold wallets and began working with law enforcement agencies and blockchain project teams. At this point, it has been possible to freeze some of the tokens, including Solayer assets worth approximately 12 billion won (and separately, LAYER worth $8,18 million).

The tokens affected include: SOL, 2Z, ACS, BONK, DOOD, DRIFT, HUMA, IO, JTO, JUP, LAYER, ME, MEW, MOODENG, ORCA, PENGU, PYTH, RAY, RENDER, SONIC, SOON, TRUMP, USDC, and W.

The exchange is conducting a full audit of its security systems and plans to resume withdrawals after all checks have been completed gradually. Users are asked to promptly report any suspicious activity on their accounts to customer support.

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