According to Wu Blockchain, as reported by *The Chosun Ilbo*, Upbit took over 6 hours to report the hacking incident to financial regulators after it occurred. It’s speculated that Upbit delayed disclosing the hack due to its parent company, Dunamu, advancing merger talks with tech giant Naver, aiming to avoid any negative impact from the news. The Financial Supervisory Service (FSS) of South Korea reported that Upbit held an emergency meeting 18 minutes after detecting the hack (at 5:00 AM), suspended Solana network-related asset transactions 27 minutes later, and paused all digital asset deposits and withdrawals starting at 8:55 AM. However, it wasn’t until 10:58 AM that Upbit made its first report to the FSS. Despite the delayed reporting, regulators currently lack legal provisions for direct penalties or mandatory compensation. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=53127