Upbit Resumes Deposits After $37 Million Solana Hack

Crypto exchange Upbit has resumed deposits for its customers after a significant security breach impacted the platform’s Solana-based tokens. The hack, which saw approximately $37 million in crypto stolen from hot wallets on November 27th, triggered an immediate halt to all transactions and a thorough review of the affected addresses. Upbit has since pledged full user compensation from its reserves, implemented fresh deposit addresses to enhance security, and frozen assets as part of efforts to address the breach. The exchange is now operating with phased service restarts for networks that have passed security checks, followed by further deployments for staking and NFT deposits.