Korean media: Upbit reported to regulatory authorities 6 hours after being stolen on November 27th

According to Korean media Chosun, the South Korean cryptocurrency exchange Upbit was hacked in the early hours of November 27th, with over 104 billion tokens (approximately 44.5 billion Korean won, or 240 million yuan) transferred to an unknown external wallet within just 54 minutes. The main damaged tokens this time are 24 tokens under the Solana ecosystem, among which "BONK" has the highest number of stolen tokens, reaching 103.1 billion, accounting for 99.1% of the total loss; In terms of value, Solana suffered the largest loss of 18.9 billion Korean won, accounting for 42.7%. Although Upbit quickly convened an emergency meeting and suspended the transfer of related assets upon discovering the anomaly, it did not report to financial regulatory authorities until 6 hours later. Upbit stated that it has compensated users for their losses with its own funds and taken measures to prevent further abnormal transfers. However, due to the lack of clear penalty provisions for virtual asset service providers in current laws, regulatory agencies find it difficult to impose direct sanctions or enforce compensation on them. Currently, the South Korean Financial Supervisory Authority is conducting on-site inspections of Upbit, but it may be difficult to impose heavy penalties.