UPbit Loses $49 Million Worth of Crypto in Major Hack

Blockchain / Finance / November 28, 2019


UPbit, a South Korean-based crypto exchange, has lost 342,000 worth of ether (ETH), accounting for approximately $49 million USD, in a hack earlier today.

UPbit Says Investors Assets Are Safe

The exchange has suspended its deposit and withdrawal service after confirming in a statement that the assets had been stolen from the Upbeat Ethereum hot wallet to a previously unknown wallet address. UPbit has said that it will cover the losses but added that it may take at least two weeks before the exchange’s services are fully functional again. Any remaining cryptocurrency in the exchange’s hot …

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ICOStream Team

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