Upbit, a popular South Korean cryptocurrency exchange, suffered a hacking loss of approximately $36 million on its Solana network on Thursday, November 27, 2025. The platform has suspended Solana (SOL) withdrawals and promised to issue full refunds to affected customers. The attack is believed to be by North Korean hackers who have been involved in several cryptocurrency exploits over the years. Dunamu representative Oh Kyung-seok said:Upbit prioritized the protection of member assets and immediately suspended deposit and withdrawal services and conducted a comprehensive inspection.“
Will Solana be hit by the Upbit hack?
Upbit suffered a similar hack in 2019, when 342,000 ETH, worth about $41.5 million at the time, was stolen by North Korean hackers. The value of the stolen Ethereum (ETH) has since risen to more than $1 billion. The 2019 hack remains one of the most significant exploits in cryptocurrency history.
The Solana network has been at the center of several cryptocurrency exploits. But so far it hasn’t been hit. According to CoinGecko’s Solana data, SOL price has increased by 2.9% in the past 24 hours and by 0.3% week-on-week. SOL’s rise follows a broader market recovery, with Bitcoin (BTC) regaining the $91,000 mark today. Despite the rally, Solana (SOL) is still down 8.9% on the 14-day chart, 28.8% month-over-month, and 38.1% since November 2024.
The recent market rally may be due to the increased likelihood of another rate cut in December 2025. Solana (SOL) and the larger crypto market took a massive hit last month due to macroeconomic uncertainty. It is likely that the recent increase in the possibility of interest rate rises has led to an increase in investor sentiment. The market rally is likely to continue in the coming weeks. If this trend continues, Solana (SOL) could return to the $200 level next month.
(Tag translation) Solana
