Bithumb Halts Virtual Asset Transfers to Upbit After Upbit Hack Incident

COINOTAG News reports that on November 27, South Korea’s second-largest crypto exchange Bithumb published a Notice on Virtual Asset Withdrawals following the Upbit hack incident, declaring that transfers to Upbit will be suspended until further notice.

The notice indicates that inter‑exchange transfers are paused to safeguard client assets while regulatory and security reviews proceed, reflecting heightened risk controls across the domestic market.

Traders and institutions should monitor official updates from Bithumb and Upbit, and assess liquidity strategies as settlement channels between major venues tighten amid ongoing investigations.

In the evolving South Korea crypto landscape, exchanges are sharpening withdrawal governance and disclosure practices to bolster market resilience and reduce systemic friction during incident responses.