Upbit Suffers 5.9B-Won Breach, Ensures Full Compensation for Affected Users

South Korea’s largest cryptocurrency exchange, Upbit, has confirmed it suffered a 5.9 billion won ($4 million) loss in Thursday’s hack, but all affected user assets have been fully reimbursed.

Upbit’s parent company, Dunamu, said it used its own reserves to cover the full 38.6 billion won in customer losses. Another 2.3 billion won linked to the breach was frozen through blockchain tracking, the company added in an official statement.

The exchange quickly halted deposits and withdrawals after detecting unusual fund movements, later confirming the cyberattack. Authorities are investigating the incident, with the North Korea-linked Lazarus group identified as a potential suspect.