Binance Freezes 80 Million KRW in Solana Tied to Upbit Hack
Binance disputes Korean media claims of a 15-hour delay in freezing stolen funds, stating it acted immediately after the Upbit hack to block asset transfers.
SOL
Summary
On Dec. 12, Binance refuted Korean media allegations that it delayed 15 hours in freezing assets and recovered only 17% of funds requested after the Upbit hack. The exchange asserted its security team acted immediately to block transfers, challenging reports of slow response. Earlier figures indicated Binance froze about 80 million KRW in Solana, representing 17% of the 470 million KRW sought by Korean police.
Terms & Concepts
- Solana: A high-performance blockchain platform known for fast transactions and low fees.
- Upbit: A major South Korean cryptocurrency exchange offering a range of digital asset trading services.
- KRW (South Korean won): The official currency of South Korea, used here to denote the value of frozen assets.