24-Hour Hot Cryptocurrencies and News | Upbit Suffers $30.43 Million Theft; Over Half of Monad Airdrop Recipients Have Selected to "Clear Out" Their Holdings (November 28)

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• BTC: +0.22%
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• VIRTUAL: - 0.58%
• UNI: - 4.09%

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• 1 INCH: +5.56%
• SKY: +4.85%
• MEME: +4.81%
• SWEAT: +4.56%

Headlines

Upbit suspends deposits and withdrawals due to the theft of $36.8 million worth of Solana network assets.

According to SlowMist, cryptocurrency exchange Upbit has suspended all deposit and withdrawal services after confirming that approximately 54 billion Korean won (about $36.8 million) of Solana network assets were transferred to an unknown external wallet on November 27. Affected assets include 2Z, ACS, BONK, DOOD, DRIFT, HUMA, IO, JTO, JUP, LAYER, ME, MEW, MOODENG, ORCA, PENGU, PYTH, RAY, RENDER, SOL, SONIC, SOON, Trump, USDC, and W.

Upbit has revised the amount of stolen funds to 44.5 billion won, approximately US$30.43 million. South Korean regulators will conduct an on-site investigation until December 5th.

According to an updated statement from Upbit this afternoon, the amount of assets leaked related to the Solana network has been revised from 54 billion won to 44.5 billion won (approximately US$30.43 million); the amount of funds frozen on the Solana network has been revised from approximately 12 billion won to approximately 2.3 billion won (approximately US$1.57 million).

In addition, according to South Korean media BlockMedia, following the Upbit security incident, the Virtual Asset Supervisory Service of the Financial Supervisory Authority of South Korea immediately launched an on-site inspection of the platform.

YZiLabs criticizes BNC's board of directors, citing chaotic execution and poor communication, and demands the introduction of new directors to "save the company."

According to Odaily Planet Daily, investment firm YZiLabs has submitted a preliminary consent statement to the U.S. Securities and Exchange Commission (SEC) to expand the board of directors of Nasdaq-listed CEA Industries Inc. (BNC) and elect several new directors by soliciting written consent from shareholders.

Industry News

Alt5 Sigma, linked to the Trump family's crypto projects, fires its CEO and COO.

Odaily Planet Daily reports that Alt5 Sigma Corp., a company associated with the Trump family's crypto projects, announced on Wednesday the dismissal of its acting CEO Jonathan Hugh and COO Ron Pitters. The company stated that the decision was unrelated to any specific misconduct.

Tether has confirmed the termination of its operations in Uruguay and will lay off 30 employees.

According to Odaily, Tether has confirmed that it has informed the Uruguayan Ministry of Labor and Social Security (MTSS) that it will terminate its operations in Uruguay and lay off 30 of its 38 employees.

According to El Observador, the decision was confirmed following a meeting at the headquarters of the National Labor Bureau (Dinatra) on Tuesday. Tether had previously revealed the decision in September, at which time it attributed the cause to Uruguay's high energy costs and lack of a competitive tariff framework.

Do Kwon argues his sentence in the TerraUSD crash should not exceed five years.

According to Odaily Planet Daily, Do Kwon, co-founder of Terraform Labs, stated that his sentence in the United States for his involvement in a fraud case related to the approximately $40 billion TerraUSD stablecoin collapse in 2022 should not exceed five years.

Kwon pleaded guilty to conspiracy and wire fraud charges in August, thus avoiding trial. He was arrested and convicted last year in Montenegro for using a fake passport and was subsequently extradited to the United States as a fugitive from South Korea. (Bloomberg)

Arthur Hayes has further increased his holdings of ENA and ETHFI, bringing his total holdings to 4.89 million and 696,000 coins respectively.

According to Odaily Planet Daily, OnchainLens monitoring shows that Arthur Hayes (CryptoHayes) has continued to buy tokens from FalconX recently. Latest data shows he has purchased again:

The acquisition of 2 million ENA tokens (worth $556,000) brings his total ENA holdings to 4.89 million tokens (approximately $1.37 million).

364,987 ETHFI (worth $287,000) were added, bringing the total ETHFI holdings to 696,000 (approximately $543,000).

Project News

Ethereum increases the block gas limit from 45 million to 60 million.

According to data from GasLimit.pics, following calls from users and developers for increased capacity, Ethereum's block gas limit has been raised from 45 million to 60 million. Ethereum Foundation researcher Toni Wahrstätter announced this adjustment on the X platform, stating it was the result of a year-long effort by the community aimed at improving the processing power of Ethereum's base layer.

More than half of Monad airdrop recipients have already "cleared out" their stock, with only one-third choosing to continue holding.

According to Adam's statistics, of the 76,021 wallets that received the Monad airdrop, 39,796 wallets (52.4%) have sold or transferred all their tokens; 27,133 wallets (35.7%) remain fully invested; 5,728 wallets (7.5%) have sold/transferred more than 50% of their tokens; and 3,364 wallets (4.4%) have sold/transferred less than 50%. Overall, the data shows that "cash-out" investors dominate among airdrop recipients, with long-term holders accounting for less than 40%.

Infinex will launch a public offering on Sonar, aiming to raise $15 million.

According to Odaily Planet Daily, Infinex will launch a public offering on Sonar, allowing community members to acquire INX tokens before the project's January 2026 token, TGE.

Last year, Infinex raised $67.7 million through a Patron NFT sale. In a podcast, Infinex founder Kain Warwick stated that by launching a public offering on Sonar, Infinex plans to sell 5% of its total INX supply at a fixed, fully diluted valuation of $300 million, aiming to raise $15 million.

Uniswap now supports the Monad mainnet.

According to official sources, the Uniswap application has been launched on the Monad mainnet, allowing users to bridge and exchange directly within the Uniswap application.

Investment and Financing

Naver and Upbit's parent company Dunamu will jointly invest $6.8 billion in AI and blockchain.

According to Odaily Planet Daily, South Korean tech giant Naver and Dunamu, the parent company of South Korea's largest cryptocurrency exchange Upbit, plan to jointly invest 10 trillion won (approximately US$6.8 billion) over the next five years to build a new generation of financial infrastructure based on AI and blockchain technologies.

Naver's fintech arm, Naver Financial, confirmed on Wednesday that it will acquire Dunamu through a share swap. This is one of the largest collaborations in South Korea's fintech and crypto sectors, integrating Naver's AI and business capabilities, Naver Financial's payment and financial infrastructure, and Dunamu's digital asset trading and blockchain ecosystem.

Dunamu President Oh Kyung-seok stated that the two companies will also collaborate on issuing a stablecoin pegged to the Korean won. Previously, Naver Financial planned to launch a stablecoin wallet service in Busan next month. South Korean President Lee Jae-myung has chosen to promote the establishment of a stablecoin market pegged to the local currency in order to protect monetary sovereignty. (TheBlock)

Nexton Solutions raises $4 million in strategic funding, led by Danal.

Odaily Planet Daily reports that Nexton Solutions, a native AI restaking and arbitrage execution protocol, has completed a $4 million strategic funding round led by Danal, with participation from Amber Group, Value Systems, Metalabs Ventures, Vista Labs, Outlier Ventures, Kaia Foundation, TON Foundation, STON.fi, PayProtocol, and others.

Regulatory policies

Australia passes new consumer protection bill, bringing crypto platforms under financial services regulation.

According to Odaily Planet Daily, Australian Treasurer Jim Chalmers and Financial Services Minister Daniel Mulino introduced the "Companies Amendment (Digital Assets Framework) Bill 2025" to Parliament on Wednesday, aiming to address regulatory gaps and strengthen the protection of billions of dollars in customer assets.

The bill brings crypto exchanges and custody service providers under the regulatory purview of financial services laws and designates the Australian Securities and Investments Commission (ASIC) as the primary regulator.

Character * Voice

Tether CEO responds to S&P ratings: "We take pride in the hatred of rating agencies; the traditional financial system is riddled with problems."

According to Odaily Planet Daily, in response to S&P's downgrade of Tether's stability rating to the lowest level, Tether CEO Paolo Ardoino posted on the X platform, saying, "Regarding S&P's rating of Tether: We are proud of your hatred."

Historically, classic rating models designed for traditional financial institutions have led private and institutional investors to invest their wealth in companies that failed despite being rated investment grade. This has prompted regulators around the world to question such models and the independence and objectivity of all major rating agencies.

The traditional financial propaganda machine would be alarmed if any company tried to defy the pull of this frayed financial system. No company should dare to stray from it. (Against this backdrop) Tether created the first company in the financial industry with excess capital and no reserves of toxic assets. Yet, it remains highly profitable. Tether's success proves that the traditional financial system is so riddled with holes that even the 'naked emperors' are terrified.