Upbit Fully Reimburses Users After 5.9 Billion Won Hack
Upbit, South Korea’s largest cryptocurrency exchange, confirmed a 5.9 billion won ($4 million) loss in Thursday’s cyberattack, assuring that all affected user funds have been fully reimbursed.
According to Dunamu, Upbit’s parent company, the exchange covered the full 38.6 billion won in customer losses from its own reserves. An additional 2.3 billion won tied to the hack was frozen through blockchain tracking efforts, the company said in a statement.
The platform immediately suspended deposits and withdrawals upon detecting unusual outflows, ultimately confirming the security breach. Authorities are now investigating the incident, with suspicion pointing toward the North Korea-linked Lazarus group.
