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<p>Upbit plans to resume digital asset deposits and withdrawals, mandating new deposit address generation after a recent security breach affecting Solana network assets.</p>
<p>The incident underscores intensifying security challenges in the crypto market, prompting regulatory scrutiny and impacting market trust.</p>
<h2 id="upbit-resumes-crypto-transactions-post-hack-incident">Upbit Resumes Crypto Transactions Post-Hack Incident</h2>
<p>Upbit resumes cryptocurrency deposits and withdrawals after Solana hack, promising full compensation for affected users.</p>
<h3 id="upbit-relaunches-services-after-solana-specific-breach">Upbit Relaunches Services After Solana-Specific Breach</h3>
<p><strong>Upbit</strong> announced the resumption of digital asset deposits and withdrawals. This follows a security breach involving Solana tokens. Users are required to generate new deposit addresses due to wallet security upgrades. Upbit committed to <a href="https://phemex.com/en/events/trading-apex/718" rel="noopener noreferrer nofollow">covering losses</a>.</p>
<p><strong>Key figures</strong> in the incident include Upbit, operated by Dunamu with CEO <strong>Oh Kyung-seok</strong>, addressing the breach. The <strong>Fiscal Supervisory Service</strong> (FSS) initiated an inspection, while affected assets and <strong>trading activities</strong> continue to change.</p>
<blockquote>
 "We will fully cover all user losses from our corporate reserves following the hack-related suspension." — <strong>Oh Kyung-seok, CEO, Upbit</strong>
</blockquote>
<h3 id="over-30-million-compromised-solana-network-impact">Over $30 Million Compromised: Solana Network Impact</h3>
<p>Approximately <strong>30–37 million USD</strong> was stolen during the incident, affecting Solana network tokens. Upbit managed to freeze certain tokens, minimizing some losses. The company plans to compensate users fully from corporate reserves.</p>
<p>The <strong>phased resumption</strong> anticipates potential technological and regulatory outcomes. With thorough wallet inspections, <a href="https://phemex.com/en/promo/activity/719" rel="noopener noreferrer nofollow">Akash Network</a> and Ethereum ecosystem tokens, such as 1INCH and AAVE, are prioritized for early transaction resumption.</p>
<h3 id="2019-hack-revisited-lessons-yet-to-learn">2019 Hack Revisited: Lessons Yet to Learn</h3>
<p>In 2019, Upbit experienced a significant hack involving 342,000 ETH, attributed to North Korea's <strong>Lazarus Group</strong>. The latest breach mirrors past events, again involving Solana tokens, sparking a comparison in the community.</p>
<p>Experts from Kanalcoin note that Upbit’s swift response and reassurance of compensation demonstrate a proactive approach. However, the repeated target of Upbit underscores persistent <a href="https://phemex.com/earn-crypto" rel="noopener noreferrer nofollow">security gaps</a> in crypto exchanges.</p>
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    <td><em><strong>Disclaimer</strong>: This <a href="https://www.kanalcoin.com/" rel="noopener noreferrer nofollow"><strong>website</strong></a> provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing.</em></td>
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</figure> <a href="https://www.kanalcoin.com/upbit-resumes-after-solana-hack/" rel="noopener noreferrer nofollow">Read original article on kanalcoin.com</a>

Upbit Resumes Crypto Transactions Post-Hack Incident

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