Upbit will resume digital asset deposits and withdrawals on December 1 at 1:00 PM KST following a $37 million hack that focused Solana-based belongings.
The South Korean change introduced that each one current deposit addresses have been deleted, and customers should situation new addresses earlier than depositing funds.
The safety breach occurred on November 27, 2025, when hackers stole roughly 44.5 billion KRW ($30-36 million USD) from Upbit’s sizzling wallets.
Not like the 2019 assault which centered on Ethereum (ETH), the newest incident focused Solana ecosystem tokens together with Solana (SOL), USDC, and Bonk (BONK). North Korea’s Lazarus Group is suspected of planning the assault.
New deposit addresses required for all customers
Upbit warned that utilizing previous deposit addresses may lead to delays. “As a consequence of safety vulnerability enhancements and pockets system upkeep, new deposit addresses for all digital belongings are required,” the change acknowledged in its announcement.
The change instructed customers to delete any current Upbit deposit addresses registered in private wallets or different exchanges to stop future misuse.
Deposits made in the course of the suspension interval will probably be proven sequentially as soon as providers resume. Nevertheless, they talked about that processing could take further time.
Withdrawals and deposits will resume in phases, beginning with community digital belongings which have accomplished pockets system inspections and confirmed safety.
Staking requests and NFT deposits supported by resumed networks will probably be processed after service stability is verified.
Alternate covers all consumer losses from company reserves
Upbit pledged 100% protection of consumer losses from its company reserves. The change instantly halted all deposits and withdrawals upon detecting the unauthorized transfers on November 27.
The corporate efficiently labored with token foundations to freeze roughly $8.18 million value of particular tokens like LAYER, making them nugatory to attackers. The frozen belongings signify roughly 22% of the entire stolen quantity.
Customers ought to word potential worth variations that occurred in the course of the suspension interval. For digital belongings paid by airdrops, belongings with ended buying and selling help, or watchlist-designated tokens, solely withdrawals will resume.
Property that have been suspended for separate causes earlier than the inspection could stay unavailable till these points are resolved.
