South Korea FSS Sanctions Upbit Operator Dunamu Over $30 Million Solana Hack
South Korea’s Financial Supervisory Service has initiated sanction procedures against Dunamu, operator of cryptocurrency exchange Upbit, following a November 2025 hack that drained 44.5 billion won ($30 million) in Solana assets from a hot wallet in under an hour.
The watchdog sent the inspection report nearly eight months after the breach, marking the first major enforcement action targeting a cryptocurrency hack on the Solana network in Asia’s largest digital asset market. Approximately 87% of the stolen funds were customer assets, and regulators confirmed about $1.5 million has been traced and frozen.
From the sources (3 posts)
@theblockcoTHE BLOCK: South Korea's financial watchdog has begun sanction procedures against Upbit operator Dunamu over last November's hack, sending the company an inspection report nearly eight months after the incident, per SBS. The breach drained
@davefinanc89833South Korea’s FSS has begun sanctions proceedings against Upbit operator Dunamu over a $36 million hack and delayed disclosure. The case may test gaps in the country’s crypto law, which lacks direct penalties for hacking or IT failures. ht
@samuraix_sxSouth Korea is holding a major exchange’s parent company accountable for hot wallet security—$30M Solana breach, sanctions underway. The FSS has formally initiated sanctions against Dunamu (Upbit’s operator) after a Nov 2025 hack drained ~