Upbit Detects $36M Solana-Related Abnormal Withdrawal, Promises to Cover All Customer Losses

COINOTAG News reports that Upbit, a leading cryptocurrency exchange in South Korea, detected an abnormal withdrawal on November 27 at 4:42 a.m. Security teams traced the activity to transfers involving Solana-network assets moving to an external wallet address. The firm has activated its monitoring and risk-management protocols to secure client funds and prevent spillovers. The incident highlights ongoing needs for enhanced controls around digital asset transfers and strict address whitelisting in crypto markets.

Upbit confirmed approximately 54 billion won, or about $36 million, of Solana-based assets were transferred. The exchange stated it will cover all customer losses, aligning with a user-protection stance that reduces downside risk for affected traders. Investors should watch for updates from Upbit and related security rulings as investigations progress. This event emphasizes the importance of resilient risk controls and transparent reimbursement policies for cryptocurrency exchanges and Solana ecosystem assets.