A leading exchange responds to the delay in freezing funds controversy: Immediate action has been taken

【Blockchain Rhythm】Recent discussions have been sparked regarding a major exchange’s response to fund freezing during the Upbit hacking incident.

The situation unfolded as follows: South Korea’s largest crypto exchange Upbit was targeted by hackers on November 27, with approximately 54 billion KRW (about $36 million) worth of Solana-related assets transferred to an unknown wallet. Law enforcement subsequently requested a major exchange to freeze about 470 million KRW of stolen Solana tokens.

However, there seem to have been some issues in the process. According to local media reports, the major exchange ultimately froze only 17% of the requested amount, approximately 80 million KRW, and there was a delay of about 15 hours before the process was completed and notification was sent. The exchange explained that further verification was needed before proceeding.

In response, the security and investigation team of the exchange issued a statement. They stated that they discovered the incident and took immediate action to assist in freezing the related transfers, preventing further loss of funds. The spokesperson emphasized that any claims suggesting they did not take timely and effective measures are baseless.

This incident highlights that there is still room for improvement in the response mechanisms and coordination processes between exchanges and law enforcement when dealing with security emergencies. After all, in time-sensitive scenarios like hacker attacks, every minute of delay can impact the outcome of fund recovery.