South
Korean Crypto Exchange Upbit Confirms Theft of 342,000 ETH
South Korean Crypto Exchange
Upbit confirmed around 08:56 UTC on Wednesday
(November 27) that 342,000 ETH - worth approximately $49 million - was stolen
from its hot wallet.
In a notice posted on its
website, Upbit explained that at 04:06 UTC (13:06 Korean time) on November
27, 342,000 ETH was transferred from its hot Ether wallet to "an unknown
wallet” - with the address 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029.
Upbit responded by assuring
customers that:
- All cryptoassets in
its hot wallets were moved to cold wallets.
- Deposits and
withdrawals were suspended and they will not be resumed for "at
least two weeks".
Upbit says that it will cover
this loss out of its own funds.
