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Which exchanges froze Upbit hack funds?

Published Updated 323 words 2 min read

TLDR

Binance froze a portion of the stolen Upbit funds, roughly 17% of what police requested, according to a media report.

  1. Binance: froze about 17% of traced funds after verification checks per a report.
  2. Upbit itself froze $1.77 million in compromised assets during recovery efforts per a company update.
  3. Other exchanges were asked to freeze assets, but no specific platforms are named publicly this week in credible reports here.

Deep Dive

1. Binance Partial Freeze

The only exchange explicitly named as freezing Upbit hack funds this week is Binance, which blocked about 17% of police?flagged assets after additional verification and a delay reported at roughly 15 hours. This has prompted scrutiny of cross?border freeze protocols and litigation risk cited by exchanges in urgent cases, as detailed in a report.

What this means

If you are tracking fund recovery, the confirmed external freeze attribution points to Binance only, and even that was partial.

2. Upbit Internal Freeze

Upbit itself reports freezing $1.77 million as part of its on?chain tracking and recovery program, alongside covering user losses from corporate reserves and strengthening wallet infrastructure. The exchange says it continues to monitor suspicious flows and blacklist addresses, per a company update.

What this means

Internal freezes at the breached venue helped limit damage, but the question of external cooperation centers on other exchanges.

3. Others Not Named

Upbit says it asked major global exchanges to freeze deposits from flagged wallets, yet no additional exchanges are named in credible public reporting this week. Commentary highlights the need for rapid freeze coordination and possible global hotlines among platforms, per a media summary.

What this means

Beyond Binance, evidence of specific exchange freezes is thin in current public sources; attribution may emerge later as investigations progress.

Conclusion

Based on public reports this week, Binance is the only external exchange specifically identified as freezing Upbit hack funds, and it did so partially. Upbit itself executed internal freezes and broader recovery steps. Broader exchange participation has been requested but remains unnamed in current credible disclosures.

Educational information only. Crypto markets are volatile and this is not financial advice.


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