Upbit reports hack of $40M in Solana-based assets

South Korean crypto exchange Upbit has announced a security breach involving approximately 54 billion won ($39.6 million) worth of Solana-based assets. The exchange stated that it detected a transfer of the assets to an unauthorized external wallet at around 7:42 p.m. UTC on Nov. 26. Upon identifying the abnormal transaction, Upbit immediately initiated an emergency security review of its network and wallet systems and moved remaining assets to cold storage to prevent further unauthorized withdrawals. Upbit confirmed it has successfully frozen approximately 12 billion won worth of Solayer (LAYER) tokens and is actively tracking the remaining assets. The exchange pledged to cover all losses from the incident with its own corporate funds. The affected assets include 2Z, ACS, BONK, DOOD, DRIFT, HUMA, IO, JTO, JUP, LAYER, ME, MEW, MOODENG, ORCA, PENGU, PYTH, RAY, RENDER, SOL, SONIC, SOON, TRUMP, USDC, and W.