On Nov. 27, major South Korean cryptocurrency exchange Upbit announced that 342,000 Ether (ETH), accounting for roughly $50 million, were stolen from its hot wallet earlier that day. Details remain vague, and some users are suggesting an inside job, although experts are skeptical of the theory after analyzing the incident.
The platform’s operator has promised to compensate all stolen funds shortly. UpBit is the second “Big Four” exchange in the country to experience a major security breach this year.