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Alert
Upbit Halts Services After Detecting $36.8M Suspicious Transfer
11/27/2025, 03:57
11/27/2025, 04:00
AI SUMMARY
●Upbit suspends all deposits and withdrawals following a suspicious transfer
●Approximately 54 billion KRW ($36.8M) in Solana assets were moved to an unknown wallet
●Security firm SlowMist flagged the incident as the exchange investigates
South Korean crypto exchange Upbit has announced a complete suspension of deposits and withdrawals following the detection of a suspicious transaction. The exchange confirmed that approximately 54 billion KRW (roughly $36.8 million USD) in Solana-network assets were transferred to an unidentified external wallet around 04:42 KST.
Security firm SlowMist issued an alert regarding the incident, highlighting the substantial outflow of funds. Upbit is investigating the nature of this unauthorized movement to secure user assets and clarify the situation.
This immediate suspension aims to prevent further potential losses while the exchange conducts a thorough review of its security protocols and traces the destination of the transferred funds.