Upbit Suffers ~$38.5M Abnormal Outflow on Solana Network
Upbit issued an announcement today at 12:33 KST (UTC+9) stating that an abnormal outflow of assets worth approximately 54 billion KRW (~$38.57m) occurred on the Solana network at approximately 04:42 KST (UTC+9) on November 27. Withdrawals for the affected assets have been temporarily suspended.
Due to the suspension of deposits and withdrawals following a hack incident, Solana‑related tokens on South Korea’s largest exchange Upbit have surged sharply, showing a significant premium compared with other major markets. For example, ORCA rose to 3,410 KRW (about $2.33), representing a premium of over 25%.
Upbit has revised its Solana-related loss to 44.5 billion KRW ( $30.43 million), while the amount of Solana funds frozen has been updated to around 2.3 billion KRW ( $1.57 million).
This is why I stick to diversified ETFs and blue-chips over crypto volatility—exchanges get hit, but long-term compounding in stables keeps building wealth without the drama. Patience over panic always wins