Bithumb Halts Transfers to Upbit Following Solana Hack

South Korean cryptocurrency exchange Bithumb has temporarily suspended transfers between its platforms and Upbit following a significant security breach affecting the platform’s Solana-based transactions. The incident has triggered immediate action from both exchanges, including measures to ensure user safety and address potential regulatory implications. 36 million USD worth of Solana tokens were stolen during the attack, which has intensified scrutiny on overall exchange security within South Korea. This disruption to liquidity between key players in the market could impact trading volumes and raise concerns about future regulations.