Upbit CEO publicly apologized: confirmed about 44.50 billion Korean won asset loss, has been suspended
2025-11-28 09:10:23
On November 28th, Upbit CEO Oh Kyung-suk issued an apology letter, and will report the cyber attack incident to the relevant Korean authorities in accordance with relevant laws and regulations, and investigate the cause and scale of the incident. Upbit analyzed a large number of public transaction records on the chain and found a security bugs that caused the private key to be inferred, which has now been fixed. Upbit has suspended digital asset recharge and withdrawal, and is tracking and freezing digital assets that have been transferred outside the Upbit platform. Upbit has confirmed that about 44.50 billion Korean won assets were damaged, of which about 38.60 billion user assets, of which about 2.30 billion Korean won has been frozen, and its own assets are about 5.90 billion Korean won. Upbit reiterated that it has fully compensated users using the assets held by Upbit. Upbit is currently overhauling the wallet system. Once the system is stable, the recharge and withdrawal of digital assets will resume immediately.
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