PANews reported on November 27th that South Korean cryptocurrency exchange Upbit has announced the suspension of deposit and withdrawal services and the commencement of a comprehensive review process. Around 04:42 local time on November 27th, 2025, Upbit confirmed that 54 billion Korean won (approximately US$36.81 million) worth of Solana network-related assets were transferred to an unknown external wallet. The digital assets involved include 2Z, ACS, BONK, DOOD, DRIFT, HUMA, IO, JTO, JUP, LAYER, ME, MEW, MOODENG, ORCA, PENGU, PYTH, RAY, RENDER, SOL, SONIC, SOON, TRUMP, USDC, and W. To protect user assets, Upbit immediately took the following measures: 1. All assets have been transferred to a secure cold wallet to prevent further abnormal transfers; 2. On-chain freezing attempts have been initiated, and cooperation with law enforcement investigations is underway; 3. A comprehensive security review of deposits and withdrawals is being conducted.

Upbit stated that it has confirmed the scale of losses caused by the abnormal withdrawals and plans to use all of its assets to make up for the losses, ensuring that users' assets are not affected in any way.