A major Korean crypto platform just got hit hard. Hackers drained roughly 54 billion KRW from the exchange—that's around $36.8 million worth of assets sitting on Solana, now scattered across unidentified wallets.

The breach sparked immediate concerns about user fund safety, but the platform moved quickly to contain the fallout. Management issued a statement confirming they'll absorb the entire loss. Every affected user will be made whole, no exceptions.

This incident highlights ongoing security vulnerabilities even at established platforms. While the exchange's compensation promise offers relief, the breach itself raises questions about wallet infrastructure and monitoring systems. The stolen funds remain on the move, with blockchain analysts tracking the flow across multiple addresses.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

21 Likes

Reward
21
7
Repost
Share

Comment

0/400

TideReceder

· 11-30 09:03

Wait, are they really going to compensate? I seem a bit skeptical... Whose wallet protection failed this time? $36.8 million just vanished like that, feels like the exchange side is also quite precarious. The Korean exchange is causing trouble again, when will it settle down? This hacker's methods must be quite impressive, able to breach even large platforms. Compensation promises sound good, but I wonder how it will actually be executed in the end. I think Cold Wallets are the way to go, Centralized Exchanges are just gambling. When such incidents occur, the crypto world has to worry about being regulated again. The stolen funds are still on the move, how long will it take to track them down? But to be fair, at least they dare to promise compensation, which is better than some exchanges. The security measures here are really outrageous... which platform will be next?

View OriginalReply0

BearMarketBuyer

· 11-27 17:04

Again and again hacked? South Korean exchange really needs to check their firewall properly. --- 36.8 million USD just disappeared like that. Although compensation is a thing, it still feels a bit uncertain. --- I just want to know if this money will really be recovered in the end... Blockchain analysts, fighting! --- Compensation aside, but this kind of thing happening repeatedly really makes people rethink putting coins on exchanges. --- At this rate, even big platforms can't guarantee safety, it's time to consider self-custody.

View OriginalReply0

gas_fee_therapist

· 11-27 09:51

Another exchange has been rug pulled? How can Korea still say they will cover all losses this time, they are quite bold. Wait, the platform that mentioned compensation is actually trying to survive, much more reliable than some that have already rug pulled. $36.8 million just disappeared like that? Wallet security really needs to be taken seriously, everyone. By the way, why do larger platforms have so many vulnerabilities? Does having more money make them lazier about fixing things? Compensation is one thing, but the hacker has already transferred the coins out, can this be tracked? Let’s take this as a lesson, no matter how big the platform is, it’s not a bank, don’t go all in on exchanges.

View OriginalReply0

NFT_Therapy_Group

· 11-27 09:51

To be honest, again? The Korean platform is really outrageous --- Compensation? I really want to see how they cover this 36.8 million dollars --- Security vulnerabilities can never be completely fixed, I'm already numb --- Stolen funds running around on-chain, what can analysts recover? Just a show --- Even big platforms can't hold up, self-custody is still reliable --- Another "we will compensate", I've trusted them a few times already... --- Hackers are really more professional than official security teams? --- The monitoring system is basically useless, just a different way to play people for suckers --- More than 36 million just like that disappeared, I'm cracking up --- Why are Wallets so vulnerable now?

View OriginalReply0

AirDropMissed

· 11-27 09:48

Another exchange has crashed, this time it's South Korea's turn... 36.8 million dollars just vanished like that, what happened to the promised security measures? The compensation promise sounds good, but who knows what will happen next? Anyway, I've already withdrawn most of my assets. Speaking of which, if even major platforms can have these issues, what can we say about small exchanges? Blockchain analysts tracking it, but it's practically no tracking at all... if hackers do a Rug Pull, what can you trace? I just want to know where that money will end up in the end, I'm scared. Self-custody wallets are still the safest, I really don't dare to leave too much in places like exchanges.

View OriginalReply0

VitalikFanboy42

· 11-27 09:46

Here we go again, even the big platforms can't hold on. Speaking of compensation promises, it sounds great, but let's see if it really comes through. Hackers are getting bolder, 36.8 million USD just slipped away? What is the security team doing? That being said, the proactive compensation attitude is quite good, much better than some platforms that go for a Rug Pull. As for blockchain tracking... it feels like updating wallet protection needs to be prioritized. It's ridiculous, it's already 2024 and we are still having these issues.

View OriginalReply0

DegenApeSurfer

· 11-27 09:35

Another major exchange has crashed, just promise to compensate, it's always like this anyway. $36.8 million... this time the hacker made a big profit, and they haven't been caught yet. Big platforms are not safe anymore, I'm a bit scared of the coins still on the exchange. That's why I've always kept my coins in a Wallet, I'd rather manage them myself than trust the platform. Why are South Korean exchanges so easy to hack recently?

View OriginalReply0

Trending TopicsView More
#JoinGrowthPointsDrawToWiniPhone17
233.17K Popularity
#DecemberMarketOutlook
29K Popularity
#GIGGLEAndPIPPINSurge
4.99K Popularity
#LINKETFToLaunch
4.97K Popularity
#SharingMy100xToken
4.45K Popularity

Hot Gate FunView More

1
BTCcBTCc
MC:$3.48KHolders:1
0.00%
2
h5h5
MC:$3.4KHolders:1
0.00%
3
test3test3
MC:$3.38KHolders:1
0.00%
4
test2test2
MC:$3.38KHolders:1
0.00%
5
testtest
MC:$3.38KHolders:1
0.00%

Sitemap