Upbit halts Solana withdrawals after $40M flows to external wallet
Earlier today, Upbit detected abnormal withdrawals involving certain Solana-based assets and immediately halted deposits and withdrawals to protect users.
Around 04:42 (KST) on Nov 27, 2025, roughly $40M worth of assets were sent to an unauthorized external wallet.
Affected assets include:
2Z, ACS, BONK, DOOD, DRIFT, HUMA, IO, JTO, JUP, LAYER, ME, MEW, MOODENG, ORCA, PENGU, PYTH, RAY, RENDER, SOL, SONIC, SOON, TRUMP, USDC, W
Key actions taken by Upbit:
1. All assets have been moved to secure cold wallets to prevent further incidents.
2. On-chain freezing attempts are in progress. About $9M worth of LAYER has already been frozen.
3. The rest of the funds are being actively tracked in cooperation with related projects and authorities.
4. A full security review is underway across all networks, not just Solana.
No user funds were lost. Upbit will fully cover any losses from its own reserves.
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