It has been confirmed that the hacking of Upbit, a domestic virtual asset exchange, went on for 54 minutes. During that time, more than 100 billion units of virtual assets were transferred out, but Upbit reported the hacking incident to the financial authorities six hours after recognizing it.
According to materials the Financial Supervisory Service submitted on the 7th to the office of Kang Min-guk, a member of the National Policy Committee, the Upbit hacking attempt took place for a total of 54 minutes from 4:42 a.m. to 5:36 a.m. on the 27th.
During this time, the volume of virtual assets transferred out reached about 104,064,700,000 units across 24 Solana-based coins (about 44.5 billion won). About 32 million coins per second (about 13.7 million won) flowed out.
By number of affected coins, "Bonk (BONK)" accounted for about 103,122,380,000 units (99.1%·1.52621 billion won), the most. By amount of damage, "Solana (SOL)" was the largest at 18.98822 billion won (42.7%).
Upbit convened an emergency meeting at 5 a.m., 18 minutes after recognizing the hacking attempt, and at 5:27 a.m. halted deposits and withdrawals of Solana network digital assets. At 8:55 a.m., it suspended all digital asset deposits and withdrawals. The first time it reported the hacking to the Financial Supervisory Service was 10:58 a.m., six hours after recognizing the incident.
It reported to the Korea Internet & Security Agency (KISA) at 11:57 a.m., and notified police at 1:16 p.m. It filed a separate report to the Financial Services Commission (FSC) at 3 p.m. The time it announced the hack on its website was 12:33 p.m.
Kang Min-guk said, "Even though Upbit, the No. 1 domestic virtual asset exchange, saw over 100 billion coins leaked due to hacking, it filed a delayed report more than six hours later," and noted, "There also needs to be a thorough investigation into whether the (leak target) was due to a structural problem in the Solana platform itself or an issue with Upbit's payment account method."