Upbit freezes 2.6 billion won in hacked assets and recovers 38.6 billion won in customer assets

Source: DigitalToday Original Title: Upbit Freezes 2.6 Billion KRW in Hacked Assets, Covers 38.6 Billion KRW in Customer Assets Original Link: The operator of the virtual asset exchange Upbit recently froze 2.6 billion KRW of digital assets that were leaked externally due to a hacking incident. The company explained that the 38.6 billion KRW in withdrawn customer assets has already been fully covered with company funds, so there is no actual loss for customers.

Upbit used its own on-chain automated tracking system to secure external movement routes and related addresses, designated those addresses as a blacklist, and requested domestic and international exchanges to freeze them. Within five hours of the incident, 2.3 billion KRW was frozen, and with further cooperation, a total of 2.6 billion KRW has been frozen to date.

To increase the recovery rate, the operator is also running a reward program for contributors, including global digital asset exchanges, white hat hackers, security experts, and blockchain analysts. The plan is to pay 10% of the final recovered assets to contributors.

An Upbit representative stated, “Although all customer victim assets have already been covered by company funds, we are continuously tracking and freezing assets with the global network to prevent them from falling into the hands of attackers.”

Meanwhile, Upbit has replaced all digital asset wallets, strengthened security, and fully resumed deposit and withdrawal services.