Korea's Upbit platform said it was exposed to a security breach that caused the loss of $ 50 million in Ethereum (ETH) currencies. The platform said it would use its own funds to compensate users for the losses.
The platform announced in the official announcement that it had lost 342,000 Ethereum coins (ETH), which are currently worth about $ 50 million. It has been converted from an Upbit wallet into an unknown wallet:
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As a result of this breach, Upbit moved most of its cryptocurrencies into cold wallets and the deposit and withdrawal process was closed for two weeks.
It is worth mentioning that prior to the official release of the details of the breach, the platform suspended the withdrawals and deposits in the platform and the spread of concern in the Crypto community after the observation of large transfers out of the portfolio of the platform Upbit. The breakthrough Upbit platform is the eighth breakthrough in the world of cryptocurrency trading platforms this year, and the total losses of these breakthroughs so far about 1.44 billion dollars, according to The Block report.
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