South Korean media: Upbit only reported the theft to regulatory agencies six hours after it occurred on November 27.

According to South Korean media outlet Chosun, the South Korean cryptocurrency exchange Upbit suffered a hacker attack in the early hours of November 27th, with over 104 billion tokens (approximately 44.5 billion won, or 240 million yuan) transferred to unknown external wallets within just 54 minutes. The affected tokens were primarily 24 tokens within the Solana ecosystem, with "BONK" suffering the largest loss, reaching 103.1 billion tokens, accounting for 99.1% of the total loss. In terms of value, Solana suffered the largest loss, at 18.9 billion won, representing 42.7%. Although Upbit quickly held an emergency meeting and suspended asset transfers after discovering the anomaly, it did not report the incident to financial regulators until six hours later. Upbit stated that it has compensated users for their losses with its own funds and has taken measures to prevent further abnormal transfers. However, due to the lack of clear legal provisions for virtual asset service providers, the current legal framework remains inadequate.