PANews|Dec 12, 2025 05:38
[Korean Media: Binance Only Partially Froze Crypto Assets Stolen from Upbit]
According to KBS, although Binance received a request from South Korean police to freeze the stolen crypto assets from Upbit following a hacking incident, it only partially complied with the request. On the day of the incident, November 27th in the morning, the police and Upbit requested Binance to freeze approximately 470 million KRW worth of Solana tokens confirmed to have flowed into Binance. Binance, citing the need for further verification, only froze assets equivalent to 17% of the requested amount, valued at approximately 80 million KRW. Binance notified that the freezing measures were completed around midnight on November 27th, about 15 hours after the request was made.
In response to KBS's inquiries regarding "why only partial freezing" and "why the measures were delayed," Binance clearly stated: "In principle, we cannot provide specific details regarding ongoing investigations." However, Binance added: "We will continue to cooperate with relevant authorities and partners in accordance with proper procedures as always."
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