Upbit Security Breach: $36.8 Million Stolen from Solana Wallet

A significant security breach has hit South Korea’s leading cryptocurrency exchange, Upbit, resulting in the theft of approximately $36.8 million worth of assets. The incident targeted its Solana hot wallet and remains under investigation. 3:42 a.m. local time on November 27, 2025, when unauthorized withdrawals were detected from various Solana-based tokens including SOL and USDC. Upbit immediately halted all deposits and withdrawals to secure user funds following the breach, ensuring that its cold storage remains unaffected.