- Upbit to resume crypto transactions post $36.8M theft.
- Akash Network’s AKT prioritized for restoration.
- Security enhancements prompt new wallet addresses issuance.
South Korean exchange Upbit will begin restoring deposit and withdrawal functions at 1 PM on December 1, 2025, prioritizing secure network assets like Akash Network’s AKT and Ethereum tokens.
This restoration follows a $36.8 million Solana theft, highlighting Upbit’s enhanced security measures and financial commitments, impacting investors and asset recovery efforts.
Upbit’s $36.8M Theft & Security Enhancements Explained
The South Korean exchange, Upbit, announced the gradual restoration of deposit and withdrawal functionalities. The process begins with network assets like Akash Network’s AKT and major Ethereum tokens. Security audits have cleared these assets for reactivation.
Wallet system updates necessitate new deposit addresses across all assets. This change addresses vulnerabilities exposed during the $36.8 million theft. The exchange’s operator, Dunamu, ensures user funds’ safety through enhanced security measures.
Market Reactions & Regulatory Challenges Await Upbit
Did you know? Coinciding with a similar breach six years prior, Upbit’s ongoing security enhancements reveal consistent challenges in managing hot wallets.
As of November 30, 2025, Akash Network’s AKT trades at $0.50, with a market cap of 140,857,415 and a fully diluted market cap of 193,243,388. Despite a 29.82% drop over 30 days, its seven-day change is slightly positive at 0.15%. Data from CoinMarketCap.
Akash Network(AKT), daily chart, screenshot on CoinMarketCap at 09:22 UTC on November 30, 2025. Source: CoinMarketCapCoincu’s research highlights that increased regulation may impose stricter compliance on exchanges, potentially affecting user registration processes. Technological advancements can enhance wallet security against hacker groups and boost investor trust in the crypto ecosystem.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/news/upbit-restores-crypto-deposits-dec-1/
