Which CEX froze Upbit funds?

TLDR

Binance partially froze the Upbit?linked funds.

1. Reports say Binance froze about 17% of the traced amount, citing verification steps before broader action, per a KBS?based report. See the coverage on Cointelegraph.
2. The freeze followed the late?November Upbit incident involving Solana?based assets; authorities traced some flows to Binance, according to Cryptonews.
3. Media noted a roughly 15?hour delay before the partial freeze, which raised questions about cross?border enforcement speed, per Cryptonews.

Deep Dive

1. Partial Freeze

The exchange identified as freezing Upbit?linked funds was Binance, and the action was partial. Reports based on KBS indicate Binance froze around 17% of the amount police requested, citing the need for additional verification before wider action, as covered by Cointelegraph and Cryptonews.

2. Incident Context

This followed Upbits late?November security incident tied to Solana?based assets, after which investigators traced some flows to Binance, prompting the freeze request, per Cryptonews. Upbit subsequently hardened custody and shifted toward 99% cold storage to reduce hot?wallet risk, as reported by Coinspeaker.

3. Enforcement Timing

Coverage noted roughly a 15?hour gap before the partial freeze, which drew scrutiny of how quickly global exchanges can act on foreign police requests without court orders, per Cryptonews. Analysts highlighted the need for standardized emergency channels to speed initial freezes, also discussed in Cointelegraph.

Conclusion

According to recent reports, Binance was the CEX that froze Upbit?linked funds, and it did so only partially at first. The episode underscores how cross?border verification, legal processes, and coordination can slow asset freezes, even when investigators quickly trace flows across chains.