Upbit Pledges Full User Reimbursement Following $37M Crypto Theft

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In the wake of a $37 million hack targeting assets on the Solana network, Upbit has guaranteed that no customer will bear financial losses, promising to use its own reserve funds for compensation.

The South Korean exchange giant has taken swift action, freezing $8.18 million of the stolen LAYER tokens and securing all other assets in cold wallets.

While deposits and withdrawals remain paused during the investigation, the move aims to maintain user trust after the sophisticated attack.