Upbit Confirms $33.6 Million Hack Loss, Fully Reimburses Customers and Freezes Stolen Funds
Upbit delayed reporting its November 2025 hack by six hours, during which over 1,040 billion Solana ecosystem tokens valued at 445 billion won were stolen.
On November 27, 2025, South Korean cryptocurrency exchange Upbit detected abnormal trades but delayed reporting the breach for six hours. During this time, over 1.04 billion Solana ecosystem tokens worth 445 billion won (~$33.6 million) were stolen. The incident, part of a rapid hack within 54 minutes, initially had higher loss estimates before being revised. BONK tokens constituted 99.1% of stolen token count, with Solana assets leading by value. Upbit reimbursed affected users from company funds and froze some stolen assets via blockchain tracking. Authorities, including the National Police Agency, continue to investigate.
- blockchain tracking: The process of monitoring cryptocurrency transactions on the blockchain to identify and potentially freeze illicit transfers.
- Solana: A high-performance blockchain network supporting decentralized applications and crypto assets, known for its fast transaction processing.