A suspected hack, meaning, it could be something else...
Bybit, CoinCheck, FTX, DMM, Wazir, KuCoin, BitMart, BitGrail, CoinBene, and, now, ladies and gents! Let's welcome the new addition to the list, Upbit!
Seriously, though, how long does it take these centralized exchanges to learn how to be impenetrable to exploits or "hacks"? Millions of dollars in funding, and yet still cracked like a biscuit?
Well, at least this one
promised to refund the stolen funds to its users.
This is why cold storage and self-custody are so important. As we know Upbit isn't a small platform; it's the largest crypto exchange in South Korea and needs no introduction. I think that in a few years, many other prominent names will be added to your list.
It's clear that despite all the security measures implemented by their experts, they have become like paper shields against hackers.. As losing $36 million in less than 24 hours is a huge amount for any platform. Let's wait and see how they compensate the affected customers.
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I advise everyone to be cautious of scammers.. I just encountered one while following the Upbit hashtag on the X platform urging people to direct message him to help trace and recover their crypto. I hope everyone avoids these scammers and their recovery services and waits for official updates through Upbit's official channels.
