The post Upbit Hack Drains $37M in Solana Assets appeared first on Coinpedia Fintech News
The Upbit hack has resulted in nearly 54 billion KRW (~$37M) in Solana-based assets being transferred to an unauthorized wallet. PeckShield first detected the breach, prompting Upbit to secure affected wallets. The exchange confirmed that no user funds are impacted, stating it will fully cover the loss using its own holdings. Upbit emphasized that the incident “will not affect member assets” as investigations and security enhancements continue.



BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate. BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more