Seoul: South Korea’s largest crypto exchange Upbit suffered a massive hacking attack Thursday, its operator Dunamu Inc. said. “A portion of Solana-affiliated assets worth approximately 54 billion won (US$36.9 million) was confirmed to have been transferred to an unauthorized wallet address at 4:42 a.m.,” said Oh Kyung-seok, the chief executive officer of Dunamu.

According to Yonhap News Agency, Upbit has assured its users that the full amount lost will be covered with assets from the exchange to ensure no damage occurs to customers’ assets. Dunamu has taken immediate action by temporarily suspending virtual asset deposit and withdrawal services on its platform and is currently conducting a comprehensive security review to prevent further incidents.

This incident highlights ongoing security challenges in the cryptocurrency sector. The exchange is working to restore its services while maintaining the trust of its users. The prices of cryptocurrencies continue to be displayed on screens inside Upbit, reflecting the exchange’s resilience amid the crisis.