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.
- 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.
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.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
