Upbit, South Korea's largest cryptocurrency exchange, experienced an asset theft incident on the Solana network. At 04:42 (UTC+9) on November 27, Upbit recorded an abnormal outflow of assets worth approximately 54 billion KRW (about $38.57 million) on the Solana network; this figure was later revised to 44.5 billion KRW (equivalent to around $30.43 million), while the scale of fund freezes on the Solana network was revised to approximately 2.3 billion KRW (roughly $1.57 million). Currently, the platform has suspended withdrawal functions.

South Korea's Financial Services Commission (FSC) Virtual Asset Supervision Bureau immediately launched an on-site inspection of the platform. The FSC stated that it has been informed of this hack, and is currently investigating the cause and course of the attack, the extent of losses, and the measures taken by the platform to protect customers' assets. The on-site inspection is expected to continue until next Friday.