What halted Upbit deposits Thursday?

TLDR

Upbit halted deposits and withdrawals Thursday after detecting an unauthorized outflow from its Solana hot wallet linked to multiple SOL?ecosystem tokens, about $3638 million in losses (report).

1. Upbit moved funds to cold wallets and pledged full reimbursement to customers (exchange update coverage).
2. Affected tokens included SOL, USDC, BONK, JUP, RAY, RENDER, ORCA, PYTH, among others (media summary).
3. Deposits were paused to secure systems and investigate the breach; services resume after security checks (market report).

Deep Dive

1. Solana Hot Wallet Breach

The trigger was an abnormal withdrawal from Upbits Solana hot wallet around 4:42 am KST (UTC+9), impacting multiple Solana?based assets and totaling roughly $3638 million (coverage). Investigators later indicated the pattern may resemble prior Lazarus tactics, though attribution is still under review (investigation update).

2. Immediate Exchange Response

Upbit suspended all deposits and withdrawals, moved assets to cold storage, and began freezing stolen funds with project teams, including a successful freeze on part of the Solayer haul (incident summary). Management stated users will be fully compensated from Upbits reserves and services will resume after audits and integrity checks are complete (news update).

3. Scope of Impact

Media reports list a broad set of Solana ecosystem tokens affected, including SOL, USDC, BONK, JUP, RAY, RENDER, ORCA, and PYTH among others (token list). The pause removed arbitrage flows and can temporarily distort local prices until transfers reopen (market context).

Conclusion

Upbits Thursday deposit halt was a containment move after an unauthorized hot?wallet outflow on Solana assets. The exchange shifted funds to cold storage, began freezes, and pledged full user reimbursement while auditing systems. Once security checks conclude, deposit and withdrawal services are set to resume.