$50 Million ETH stolen from Upbit

All transactions on Upbit exchange have been stopped due to a $50 Million hack. Around 340,000 Ethereum was withdrawn from the exchange.

“To ensure that your assets are unharmed, 342,000 ETH transferred to unknown wallets will be covered by UPbit assets. We’re working on it, and I’ll tell you as soon as I’m done”

The CEO claims all loses will be reimbursed with Upbit funds.

It is estimated it will take at least two weeks for the exchange to come online again.

Do not send funds to Upbit at this time.

You can read the official Upbit announcement here