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Upbit Reveals 5.9B-Won Corporate L
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Upbit Reveals 5.9B-Won Corporate L
Upbit Reveals 5.9B-Won Corporate Loss in Latest Hack, Fully Reimburses Users
Upbit Reveals 5.9B-Won Corporate Loss in Latest Hack, Fully Reimburses Users
Upbit said it reimbursed all 38.6 billion won in member assets from its reserves.
By Omkar Godbole, AI Boost|Edited by Sheldon Reback
Nov 28, 2025, 10:01 a.m.
FastNews (CoinDesk)
What to know:
- South Korea's largest cryptocurrency exchange, Upbit, said it lost 5.9 billion won ($4 million) of its own funds in Thursday's hack.
- Upbit has reimbursed all 38.6 billion won in member assets from its reserves and frozen 2.3 billion won through blockchain tracking.
South Korea's largest cryptocurrency exchange, Upbit, said it lost 5.9 billion won ($4 million) in Thursday's hack that netted the attackers a total of 44.5 billion won.
Oh Kyung-seok, CEO of parent company Dunamu, said the exchange fully reimbursed customers for their 38.6 billion won of losses from its own reserves. Another 2.3 billion won was frozen through blockchain tracking efforts, he said in a statement on the company's website.
STORY CONTINUES BELOW
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The exchange halted deposits and withdrawals immediately after detecting unusual outflows Thursday, eventually confirming a hack. Authorities are now considering North Korea's Lazarus group as possible perpetrators of the hack.
Read more: Korea's Upbit Suspends Deposit And Withdrawal Service After $37M in Abnormal Activity in Solana Tokens
UpbitSouth KoreaFastNewsCrypto ExchangesHacks
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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