Crypto Quant founder: Upbit hack caused arbitrage bots to temporarily shut down, and Korean funds took the opportunity to drive up altcoin prices.

According to Odaily Planet Daily, Crypto Quant founder Ki Young Ju posted on the X platform that after Upbit suspended withdrawals due to a hacker attack, the arbitrage bot temporarily stopped working, and South Korean retail investors took the opportunity to drive up the prices of various altcoins on the platform.