Upbit Fully Reimburses Users After Hack Causes 5.9 Billion Won Loss
South Korea’s top cryptocurrency exchange, Upbit, reported a 5.9 billion won ($4 million) loss in a hack on Thursday but confirmed that all affected users have been fully compensated.
Upbit’s parent company, Dunamu, stated that the exchange covered the entire 38.6 billion won in customer losses from its own reserves. An additional 2.3 billion won linked to the breach was frozen through blockchain tracking, the company added in a public statement.
The exchange immediately suspended deposits and withdrawals after detecting unusual fund movements and later confirmed the cyberattack. Authorities are investigating, with suspicion pointing toward the North Korea-linked Lazarus group.
