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Upbit Security Breach: Audit Confirms Wallet Flaw and Private Key Vulnerability Caused ~$36M Loss
11/28/2025, 09:05
11/28/2025, 17:36
AI SUMMARY
●Upbit Solana wallet hacked for ~$36M; North Korean actors suspected.
●Emergency audit and industry reports confirm a private key vulnerability was the root cause.
●Approximately $8M of the stolen funds has been frozen as mitigation continues.
Security analysts report that an Upbit Solana wallet was compromised, resulting in a loss of approximately $36 million. The stolen assets included over 20 different tokens such as RAY, ORCA, and BONK, which were subsequently dumped by the attacker. Reports suggest North Korean actors may be involved in the exploit.
An emergency audit conducted following the breach confirmed an internal wallet flaw. This vulnerability allowed for private key derivation, which was the root cause of the unauthorized access. Approximately $8 million of the stolen funds has been frozen as mitigation efforts continue.
[Update 1] Major industry reports, including summaries from The Block, have explicitly flagged this private key vulnerability as a critical security concern within Upbit's infrastructure. While specific technical details on the scope remain limited in these latest summaries, the vulnerability is being highlighted as a key development in the ongoing investigation into the exchange's security posture.