Upbit Reimburses Users After 5.9 Billion Won Hack Loss

South Korea’s largest cryptocurrency exchange, Upbit, has confirmed a 5.9 billion won ($4 million) corporate loss in a hack on Thursday, but said all affected user assets have been fully reimbursed.

Upbit’s parent company, Dunamu, reported that the exchange covered the full 38.6 billion won in user losses from its own reserves. An additional 2.3 billion won was frozen through blockchain tracking measures, the company said in a statement.

The exchange immediately suspended deposits and withdrawals after detecting unusual outflows, later confirming the security breach. Authorities are investigating the incident, with North Korea-linked Lazarus group named as potential suspects.