The ink was barely dry on Naver Financial’s $10 billion takeover of Dunamu, operator of South Korea’s largest crypto exchange Upbit, when the platform was hacked for $36 million. Upbit confirmed the incident on Thursday and said it suffered an unauthorised withdrawal of Solana-based cryptocurrencies, including stablecoins, from its coffers. “To prevent any damage to member assets, the entire amount will be covered by Upbit’s holdings,” Oh Kyung-seok, CEO of Dunamu, said in a statement. Upbit has also paused deposits and withdrawals and frozen $8.2 million in Solaire, one of the tokens syphoned during the breach. The ... (full story)