Upbit has frozen approximately $1.77 million in damaged assets and is continuing to track outflows of funds.

According to Odaily Planet Daily, Upbit's operator, Dunamu, stated that the platform has frozen approximately 2.6 billion Korean won (about US$1.77 million) in damaged assets and is proceeding with the relevant processes to ensure their safe recovery. Upbit is currently using its self-developed On-Chain Automated Tracking System (OTS) to trace the path of the transferred funds to external wallets and is collaborating with several global cryptocurrency exchanges to prevent further fund flows.

Upbit stated that although the damaged assets of its customers have been fully compensated by the platform's own funds, it will continue to track and freeze related assets to prevent them from falling into the hands of attackers. It also called on global exchanges and the blockchain community to strengthen cooperation to improve industry security levels. After completing the replacement of virtual asset wallets and upgrading its security system, the platform resumed deposit and withdrawal services for all assets on the 6th. (FN News)