Cryptocurrency [loss] $28M+

"Upbit Reveals 5.9B-Won Corporate Loss in Latest Hack, Fully Reimburses Users"

2025-11-27 [vendor] Upbit [chain] solana
Primary Source ↗
Financial Loss $28.4M (28,430,000 USD)
Recovered $1.8M
Blockchain(s) Solana

Incident Details

The Korean cryptocurrency exchange Upbit suffered a loss of around $30 million in various Solana-based assets due to a hack. Some entities have suggested that Lazarus, a North Korean state-sponsored cybercrime group, was behind the hack.Upbit reimbursed users who had lost funds from company reserves. The exchange was able to freeze around $1.77 million of the stolen assets.This theft occurred exactly six years after Upbit suffered a theft of 342,000 ETH (priced at around $50 million at the time).

Total loss estimated at $28,430,000.

Technical Details

Initial Attack Vector
Nation-state attack (Lazarus/DPRK) — private key or social engineering compromise
Vendor / Product
Upbit

Timeline

  1. 2025-11-27 Breach occurred
  2. 2025-11-27 Publicly disclosed