BlockBeats News: On November 28, the CEO of Upbit, South Korea’s largest cryptocurrency exchange, apologized and announced that they will report the network attack incident to the relevant South Korean authorities in accordance with applicable laws and regulations. Upbit is investigating the cause and scale of the incident. Upbit analyzed a large number of on-chain public transaction records and identified a security vulnerability that allowed the inference of private keys, which has now been patched. Upbit has temporarily suspended digital asset deposits and withdrawals and is tracking and freezing any digital assets that have been moved off the Upbit platform.
Upbit has confirmed that approximately 44.5 billion Korean won in assets were compromised, with user assets accounting for about 38.6 billion Korean won, of which around 2.3 billion Korean won have been frozen, and Upbit’s own assets totaling about 5.9 billion Korean won. Upbit has reiterated that they have fully compensated users using Upbit’s own holdings. Upbit is currently undergoing a comprehensive overhaul of its wallet system, and once the system is stable, digital asset deposits and withdrawals will resume immediately.
