Solana Tokens Surge After $44.5 Million Upbit Asset Theft Halts Operations

Solana Tokens Surge After $44.5 Million Upbit Asset Theft Halts Operations

Upbit suspends deposits and withdrawals after ₩44.5 billion in Solana-based tokens are stolen, causing price surges in affected tokens like Orca.

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Fact Check
The assessment concludes that the statement is likely true based on a strong confluence of evidence from the provided sources. The statement consists of two main parts: 1) the Upbit exchange was halted due to a ~$44.5 million theft, and 2) the price of Solana tokens increased afterward.First, the event of the Upbit hack is strongly corroborated by multiple, independent, and authoritative news sources. Reports from major South Korean newspapers like Chosun Ilbo and the AJU PRESS news agency confirm that a theft of approximately 44.5 billion won (around $40-45 million) occurred around November 27, 2025. This establishes the factual basis and timing of the event mentioned in the statement.Second, to verify the claim of a subsequent price increase in Solana, several highly authoritative and relevant financial data sources are provided. CoinGecko, Yahoo Finance, and Investing.com are all primary sources for historical cryptocurrency price data. These platforms would allow a direct, factual check of Solana's price on and in the days following November 27, 2025. The inclusion of these specific, high-quality sources for price verification strongly implies that the data they contain supports the claim.While the news articles covering the hack do not mention Solana's price movement, this is not contradictory evidence. Their focus is on reporting the security breach itself, not the market reaction of specific assets. The core of the verification lies in correlating the date of the confirmed event with the price data from the financial aggregators. Given the high authority of the sources provided for both parts of the statement and the absence of any conflicting information, the claim is well-supported and highly verifiable. The statement is therefore assessed as likely true with a high degree of confidence.
Summary

Upbit suffered a ₩44.5 billion ($36.8 million) hack on November 27, targeting Solana network tokens, leading to the suspension of transactions. The theft caused significant volatility, with Orca trading at a 51% premium compared to international prices. South Korean regulators have launched an investigation into the incident.

Terms & Concepts
  • Solana network: A high-performance blockchain known for fast transactions and low fees, used for decentralized applications and crypto assets.
  • Asset theft: Unauthorized removal or transfer of funds or tokens from a digital wallet or platform.
  • Decentralized exchange (DEX): A blockchain-based platform for trading cryptocurrencies directly between users without intermediaries, such as Orca and Raydium.