Breaking: Korean crypto giant Upbit just got hammered for $36M in a hot-wallet exploit targeting their Solana reserves. The breach went down recently, making this one of the bigger exchange security incidents we've seen this quarter.

Hot wallets stay vulnerable—no matter how big the platform. Upbit's been around since 2017 and handles serious volume in the Korean market, but even established players aren't immune when it comes to keeping funds in internet-connected storage.

What's wild? $36 million might sound massive, but for Upbit's scale, this could be absorbed without tanking operations. Still, it's a brutal reminder that centralized custody comes with risks. Solana infrastructure got exploited here, raising questions about whether this was a protocol-level weakness or just sloppy key management on the exchange's end.

No official word yet on whether users will eat the loss or if Upbit's insurance fund covers it. Either way, another day, another reason to think twice before leaving bags on exchanges long-term.