Upbit Halts All Services Following Unauthorized $38.5 Million Solana Transfer

South Korean cryptocurrency exchange Upbit suspended all deposit and withdrawal operations on November 27 after detecting an unauthorized transfer of approximately $38.5 million in digital assets. The breach affected multiple Solana-based tokens, including SOL, USDC, BONK, and others. The exchange has pledged to cover all customer losses using its own reserves, with services to resume after completion of security reviews.