South Korean cryptocurrency exchange Upbit confirmed a significant withdrawal of funds from its Solana-related wallets, triggering price volatility and market disruption. This incident has sent ripples across the region’s crypto markets, with prices for Solana-linked tokens displaying unusual premiums as trading activity is disrupted. 36.8 million USD worth of assets were transferred to unknown wallets. Upbit immediately froze withdrawals and deposits in a bid to protect user funds while investigations are ongoing. The exchange stated that an ‘abnormal outflow’ occurred around 04:42 KST, marking the beginning of a concerning turn of events for local crypto markets.