Right this moment, South Korean cryptocurrency alternate Upbit introduced that it has eliminated outdated deposit addresses as a part of pockets upkeep and safety enhancements. Upbit clarified that customers might want to create a brand new tackle earlier than depositing.
The alternate warned that if customers use an present tackle, it could take longer for deposits to seem.
Upbit has introduced that it’s going to regularly resume deposits and withdrawals for 33 belongings throughout 21 networks from December fifth at 17:00 KST. alternate emphasised After the resumption of deposit and withdrawal providers, we plan to make deposits and withdrawals sequentially from community digital belongings which have been confirmed to be secure.
Upbit introduces new countermeasures after Solana exploit
Upbit claimed that new deposit addresses are required for all digital belongings because of enhancements in safety vulnerabilities. Deposits and withdrawals of digital belongings suspended for numerous causes previous to inspection could stay suspended till the difficulty is resolved.
The alternate mentioned staking requests, NFT deposits, and withdrawals supported by the community or digital belongings will resume as soon as the steadiness of the eligible providers is confirmed.
as earlier than reported In response to Cryptopolitan, the platform initially suspended all providers on November 27 after a safety breach resulted within the unauthorized withdrawal of roughly 54 billion Korean received ($36.8 million). The attackers stole SOL, USDC, and over 20 different Solana-based tokens, together with BONK, JUP, RAY, ORCA, RENDER, PYTH, and TRUMP.
The incident comes a day after Naver Monetary introduced it might purchase Upbit’s dad or mum firm Dunam for 15.1 trillion received ($10.3 billion) in an all-stock merger anticipated to be accomplished in June 2026.
To stop losses, Upbit instantly suspended all deposits and withdrawals on the platform and moved the remaining belongings to chilly storage. Along with efficiently freezing $8.18 million price of LAYER tokens, the alternate continues to work with authorities and initiatives to additional freeze stolen funds.
Upbit CEO Oh Kyung-seok mentioned the alternate will use its personal reserves to cowl the total quantity, guaranteeing that no buyer will undergo any private loss.
North Korea’s Lazarus group concerned in Upbit hacking
Upbit has been hacked earlier than. In 2019, Lazarus Group was suspected of stealing 58 billion received price of Ethereum from Upbit. Additional investigation led to the preliminary conclusion that the Lazarus Group and different North Korean state-backed forces have been concerned within the assault.
Notably, the newest breach occurred on November 27, the identical day because the 2019 hack.
South Korean authorities officers mentioned the hackers both gained entry to administrator accounts or masqueraded as directors and approved the transfers. Blockchain evaluation revealed that the hacker’s pockets transformed Solana to USDC earlier than bridging the money to the Ethereum community, apparently to cowl its tracks.
Immunefi is a blockchain safety platform. revealed Lazarus was accountable for over $300 million in losses from crypto hacking incidents in 2023, accounting for 17.6% of complete losses.
Over the previous decade, Lazarus Group has been accountable for among the largest hacks, particularly within the fast-growing cryptocurrency area. In response to Immunefi, Lazarus started specializing in cryptocurrency protocols after gaining notoriety for its cyberattack on Sony Photos in 2014.
In March 2023, Lazarus hacked the Ronin Community, the bridge used within the fashionable Web3 sport Axie Infinity, and stole roughly $600 million. Lazarus additionally carried out a cyber heist in opposition to the Bangladesh Central Financial institution in 2016, leading to losses of $81 million.
Hackers employed by the North Korean authorities have taken over greater than $2 billion in cryptocurrencies to this point this yr, in accordance with blockchain evaluation agency Elliptic.
October seventh, Elliptic printed In a weblog submit containing the brand new forecast, the corporate mentioned its information “represents the most important annual complete on report, with three months nonetheless to go,” and mentioned it was based mostly on greater than 30 hacks occurring in 2025.
