upbit22

what's upbit?

Upbit is a leading cryptocurrency exchange headquartered in South Korea, established in 2017 by Dunamu Inc. It serves as the largest trading platform in the country by volume and user base, supporting over 180 cryptocurrencies and more than 300 trading pairs. The exchange provides a seamless experience through its web interface and mobile applications, prioritizing user accessibility for both novice and experienced traders. Security is a cornerstone of Upbit's operations, with certifications including ISMS-P for information security management and ISO/IEC standards for data protection, cloud security, and privacy. It employs an advanced AI-driven Fraud Detection System (FDS) operating 24/7, alongside a dedicated Anti-Money Laundering (AML) team to monitor transactions. Upbit also extends its ecosystem to include NFT marketplaces, staking services, and global operations, such as in Singapore, while maintaining transparency through its Upbit Care Centre for user support. As a regulated entity, Upbit complies with South Korean financial authorities and has expanded internationally, though its core market remains in Asia. It facilitates spot trading, deposits, and withdrawals in various fiat and crypto pairs, with a focus on reliability and innovation in the digital asset space.

Snapshot

Upbit founder attends Trump dinner; new ZAMA & Canton tokens listed.

7H ago
VISIBILITY EVENT

Upbit founder Chi-Hyung Song confirmed to participate in Donald Trump's cryptocurrency conference and luncheon at Mar-a-Lago on April 25, 2026.

10H ago
MARKET ACTIVITY

Listed ZAMA token for spot trading with KRW pair.

13H ago
MARKET ACTIVITY

Listed Canton (CC) on KRW, BTC, and USDT markets, with trading commencing 2026-04-14 via CC-Canton network.

1D ago
RISK ALERT

Suspended DOT deposits/withdrawals due to Hyperbridge gateway exploit fraudulently minting 1 billion DOT on Ethereum mainnet; listed as warning project due to dumping.

1W ago
MARKET ACTIVITY

Listed PIPPIN token for spot trading.

PARTNERSHIP

Signed strategic MOU with ICEx to strengthen Indonesia's digital asset infrastructure.

FINANCIAL EVENT

Preparing for an IPO according to reports about South Korean crypto exchanges.

MARKET ACTIVITY

Suspended the DRIFT wallet on the platform.

2W ago
REGULATORY

Faces a lawsuit to cancel Upbit's business suspension order, with a key date scheduled for April 9, 2026.

MARKET ACTIVITY

Delists Nomina (NOM) on April 13, 2026.

MARKET ACTIVITY

Listed SKY token for trading.

FINANCIAL EVENT

Reported FY2025 operating profit of $599M (down 26.7% year-over-year) and net income of $489M (down 27.9% year-over-year), with operating expenses rising 26.3% to $475M.

FINANCIAL EVENT

Reported total assets of $9.1B (down from $10.6B), total equity of $4.3B (up from $4.1B), cash of $278M (down from $348M), and short-term bonds/deposits of $5.1B.

ONCHAIN METRICS

Generated FY2025 revenue of $1.07B, down 10.04% YoY, with trading platform fees comprising 98.3%.

ONCHAIN METRICS

Operating profit for 2025 sits at KRW 869.2 billion, down 26.7% year-over-year.

ONCHAIN METRICS

Posted 2025 net profit of KRW 708.9 billion, down 27.9% year-over-year.

MARKET ACTIVITYOfficial

Listed Katana Network (KAT) on KRW, BTC, and USDT pairs March 26, 2026.

3W ago
MARKET ACTIVITYOfficial

Listed ETHFI (ether.fi) KRW trading pair on Upbit March 19, 2026, at 12:30 KST.

RISK ALERT

Hacker who originally stole over $30 million from Upbit consolidated $16,000 of RAY tokens into a new address on March 18, 2026, marking the first movement in one month, with approximately $1 million in illiquid tokens still held.

1M ago
VISIBILITY EVENT

mentioned in market overview covering South Korean digital asset regulatory integration plan for 2026, which allows corporate crypto allocation up to 5% in top 20 tokens and may bring new capital inflows to exchanges like Upbit

MARKET ACTIVITY

Recorded $88 million in XRP trading volume over the past 24 hours.

MARKET ACTIVITY

Listed on Upbit South Korea.

TECH EVENT

Introducing Upbit Web3 Names to replace complex addresses with usernames and On-chain Verify for KYC recorded on-chain by authorized institutions.

TECH EVENT

Implementing Paymaster feature allowing gas fees to be paid in KRW-linked stablecoins.

MARKET ACTIVITYOfficial

Lists Internet Computer (ICP) with KRW, BTC, USDT pairs, trading begins 2026-03-11 at 17:00 KST.

MARKET ACTIVITY

Averages 8 monthly token listings, ranking 9th among major centralized exchanges.

MARKET ACTIVITY

Listed spot trading for EDGE token on March 4, 2026.

MARKET ACTIVITY

Listed spot trading for CFG token in KRW market on March 4, 2026.

MARKET ACTIVITY

Listed EDGE with KRW, BTC, and USDT trading pairs, following listings on Coinbase, Kraken, Aerodrome, and Gate.

ONCHAIN METRICS

Generated median volume of $1.4B from day one to month three across listings in 2025.

MARKET ACTIVITY

Listed Centrifuge (CFG) with KRW, BTC, and major stablecoin pairs on February 26, 2026.

MARKET ACTIVITY

Listed Seeker (SRK) in KRW, BTC, and USDT markets on February 24, 2026 with initial trading restrictions on buy orders and price limits.

MARKET ACTIVITY

Listed Espresso (ESP) in KRW, BTC, and USDT markets on February 24, 2026 with initial trading restrictions on buy orders and price limits.

MARKET ACTIVITY

Listed SKR trading pairs against KRW, BTC, and USDT.

MARKET ACTIVITY

Listed AZTEC token with KRW, BTC, and USDT trading pairs.

MARKET ACTIVITY

Holds 71.6% market share in Korea with 4.5 million active participants.

MARKET ACTIVITY

Listed TAO with KRW, BTC, and USDT trading pairs.

ONCHAIN METRICS

Recorded $1.0T in trading volume for 2025, representing an 18.9% year-over-year decline from 2024, and holds 5.5% market share as the tenth-largest centralized exchange.

2M ago
MARKET ACTIVITY

Will delist Loopring (LRC) on 2026-03-16 at 15:00 KST, citing insufficient disclosure, doubts about business legitimacy, and sustainability concerns.

MARKET ACTIVITY

Increased spot trading volume by 44% in January 2026 compared to December 2025, ranking third-highest.

TECH EVENT

Launched Giwa Chain, an Ethereum Layer 2 on OP Stack deployed on Optimism Superchain for institutional use. Features 1-second block times, Flashblocks, full EVM compatibility, ETH as native gas, and no separate GIWA token planned.

PARTNERSHIP

Naver Financial entered stock swap agreement to acquire Dunamu, making it a 100% subsidiary and valuing it at approximately $10.6B.

REGULATORY

South Korea is monitoring ZK tokens listed on Upbit.

REGULATORY

Proposed ownership caps of 15-20% for major shareholders by South Korea's Democratic Party, requiring 5-58% stake reductions for Upbit, with a three-year grace period starting 2026.

REGULATORY

Subject to AI-powered surveillance upgrades via Financial Supervisory Service's VISTA platform to detect wash trading, spoofing, and pump-and-dump schemes in real time.

MARKET ACTIVITY

Experienced recent trading volume decreases with Bitcoin trading at a discount on the platform.

ONCHAIN METRICS

Holds 5.5% market share among centralized crypto exchanges.

MARKET ACTIVITY

Lists SENT/KRW, SENT/BTC, and SENT/USDT trading pairs.

ONCHAIN METRICS

Achieved 1.5 million weekly visits, ranking 8th among the most active crypto exchanges by this metric.

WHALE ACTIVITY

Detected a new wallet associated with Upbit for SPACE token.

MARKET ACTIVITY

Listed HeyElsa (ELSA) token on KRW, BTC, and USDT markets with support for Base network only.

MARKET ACTIVITY

Listed 6-7% of Binance Alpha projects as secondary listings in 2025, representing one of the highest conversion rates among major exchanges.

MARKET ACTIVITY

77% of token listings in 2025 were secondary listings rather than primary listings.

MARKET ACTIVITY

KRW trading pairs outperformed BTC/USDT pairs by 25 percentage points in 2025, with KRW pairs returning +34% versus +9% for BTC/USDT pairs.

ONCHAIN METRICS

Processed over $1 trillion in XRP/KRW trading volume during 2025.

MARKET ACTIVITY

Listed USDe spot trading on January 14, 2026 at 09:00 UTC.

3M ago
MARKET ACTIVITY

Listed Ethena's USDe with KRW, BTC, and USDT trading pairs.

MARKET ACTIVITY

Experienced approximately 80% decline in daily average trading volume in 2025 compared to 2024.

MARKET ACTIVITY

Listed on OSL Hong Kong in December 2025.

REGULATORY

Approved Grvt as a VASP (Virtual Asset Service Provider), enabling secure asset transfers within the Upbit ecosystem.

MARKET ACTIVITY

Limited to spot trading only due to South Korea's regulatory environment, with derivatives and futures prohibited for retail traders, contributing to approximately $110 billion in capital outflows from domestic exchanges to offshore platforms in 2025.

MARKET ACTIVITY

Lists XAUT trading pairs against KRW, BTC, and USDT.

RISK ALERT

Suspends all services on January 1, 2026 for scheduled server maintenance and routine asset audit.

MARKET ACTIVITY

Suspended FLOW token trading on December 27-28, 2025, following a security exploit on the Flow blockchain that resulted in approximately $3.9 million in drained assets.

MARKET ACTIVITY

Lists ZKP trading pairs against KRW, BTC, and USDT.

REGULATORY

Will require stablecoin issuers to have a corporate entity in Korea to be listed on the exchange, according to a planned Korean government crypto bill.

MARKET ACTIVITY

Listed SEI token since 2023.

HumidiFi (WET) lists on Upbit on December 15 at 18:30 KST with KRW, BTC, and USDT trading pairs. HumidiFi is a Solana-based decentralized trade execution layer.

4M ago

South Korean police requested Binance to freeze 470 million KRW in Solana tokens stolen from the hack, but Binance froze only 17% (80 million KRW) after a 15-hour delay, citing verification needs.

Upbit completes wallet system adjustment, increasing cold wallet storage to 99% and reducing hot wallet storage to 0% following the recent hack, exceeding South Korea's 80% regulatory requirement for cold storage.

Plume Network lists on Upbit with Korean won trading pair on November 26 and subsequently lists on Coinbase on December 9.

Upbit listed the $IN token from Infinit Labs in November, and the token price increased over 121%.

Korean lawmaker reveals Upbit took 6 hours to report the November 27 hack to regulators after discovering abnormal trading at 4:42 AM, while hackers stole over 104 billion Solana tokens worth 44.5 billion Korean won in 54 minutes, and current laws lack direct penalties for virtual asset service providers regarding hacking incidents.

South Korea's bank-level liability framework for crypto exchanges includes fines up to 3% of revenue for security failures and tougher IT standards requirements.

South Korean police launch a formal probe into the $30 million Upbit hack amid allegations of delays.

South Korea will impose bank-level liability on crypto exchanges, requiring them to repay users for hack losses even when not at fault, following the Upbit hack.

Upbit's website experiences downtime, with reports linking the outage to Cloudflare infrastructure issues.

Deposits and withdrawals for 33 assets across 21 networks resume December 5 at 17:00 KST, with all old deposit addresses deleted and users required to generate new ones before depositing.

Upbit turns a profit in the aftermath of the $36M hack using fence pumping methods.

Naver completes USD 10.3 billion acquisition of Dunamu, the operator of Upbit, in November 2025.

South Korean authorities suspect the Lazarus Group is behind the $36M hack.

Upbit completes $10.30B fundraising round, ranking as the largest crypto fundraising last week.

A hacking probe deadline is set for December 5.

A hack results in the theft of nearly $2 million worth of $TRUMP tokens.

A post-hack audit discovers an internal wallet flaw that could expose private keys, though the connection to the $30M breach remains unclear.

Dunamu's CEO Oh Kyung-seok issues a public apology over the 44.5B KRW hack.

The exchange reimburses users affected by the hack. Attackers launder stolen funds through Railgun privacy protocol.

Naver and Upbit announce a $7 billion investment into AI and blockchain development.

Attackers convert stolen Solana tokens into USDC while authorities conduct an on-site probe. Exchange moves remaining funds to cold storage following the breach.

Investigators trace the $30 million breach to Lazarus Group, confirming attribution of the attack.

Attackers inferred private keys by analyzing wallet address patterns according to official statement. Total affected assets reach 44.5B KRW (38.6B user funds, 2.3B frozen, 5.9B company loss) with tokens trading at 10%+ premiums and Solana ecosystem tokens at 50%+ premiums 24 hours after the exploit.

South Korean authorities investigate whether North Korea's Lazarus Group orchestrated the attack using hopping and mixing methods on the hot wallet, with both deposits and withdrawals suspended.

KakaoBank begins developing its won-pegged stablecoin, entering competition with Naver/Dunamu's planned stablecoin platform in South Korea's digital finance sector.

CEO Oh Kyung-seok publicly confirms the breach and apologizes, committing to full user reimbursement from company reserves. The hack occurred hours before the public announcement of the $10.3B Naver/Dunamu stock-swap merger and six years after Upbit's 2019 breach when 342k ETH was stolen by North Korean hackers.

Upbit revises Solana-related loss to $30.4M with $1.57M frozen; Korea's FSA conducts on-site inspection through December 5.

Withdrawal suspension has disabled arbitrage bots, causing Korean traders to pump altcoins on the platform.

2.3 billion KRW in LAYER tokens frozen on-chain following the hot wallet compromise, with cold wallets confirmed unaffected.

Dunamu (parent company) and Naver plan to invest 10 trillion KRW (~$6.8B) over the next five years to build AI and blockchain-based financial infrastructure and issue a KRW-pegged stablecoin. The hack affected 23 specific Solana-based tokens including SOL, BONK, JUP, RENDER, USDC, TRUMP, PYTH, JTO, and 15 others.

Upbit officially discloses unauthorized transfer of approximately $36-40M (54 billion KRW) in Solana network assets to unknown wallet at 04:42 KST on November 27. Exchange suspends all deposits and withdrawals and commits to full coverage of losses from company holdings.

Hot wallet appears compromised according to on-chain analysts.