Upbit, a leading South Korean cryptocurrency exchange, has successfully frozen 2.6 billion won (approximately $1.77 million) in assets following a recent security breach. The exchange is utilizing its proprietary On-Chain Automated Tracking Service (OTS) to trace the movement of stolen virtual assets and is working closely with global exchanges to prevent further unauthorized transfers. Despite the breach, Upbit has assured clients that all lost assets have been compensated using the company's own funds. The exchange has also enhanced its security protocols, including replacing all virtual asset wallets, and has resumed full deposit and withdrawal services. The incident, which resulted in a loss of over 44.5 billion won, prompted an apology from the CEO, emphasizing Upbit's commitment to asset recovery and security.
Upbit Freezes $1.77 Million in Stolen Assets, Intensifies Recovery Efforts
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