Upbit Covers Losses from $36 Million Solana Breach

Upbit suffered a significant security breach affecting the Solana blockchain, resulting in a loss of approximately 54 billion KRW. This incident triggered immediate action, including a public apology from CEO Oh Kyung-seok and a suspension of Solana-based services. Upbit is undertaking a comprehensive review to fortify its systems and prevent future vulnerabilities. The impact of this breach underscores the ongoing challenges in securing cryptocurrency exchanges and necessitates increased collaboration on asset recovery and heightened regulatory scrutiny.