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Upbit experiences sudden asset movement: $36 million Solana Token transferred, while small coins rise against the trend by 90%
[Coin World] This morning, a strange scene suddenly appeared in the Solana ecosystem—many small coins collectively experienced a big pump on the Upbit platform, with ORCA soaring by 92.51%, MET2 directly rising by 94.41%, and RAY also rising by 51.07%. Behind this pump lies a big event: approximately 54 billion Korean won (about 36 million US dollars) worth of Solana network assets inexplicably transferred to an unknown Wallet.
It is not just a single coin that has been affected; a whole bunch of Solana ecosystem tokens such as ORCA, DOOD, RAY, and LAYER have also been caught up. Upbit reacted quickly, pressing the pause button directly – all deposit and withdrawal channels are closed, and they are currently investigating where the system went wrong.
Interestingly, those low market cap Solana project tokens have instead seen their prices skyrocket due to this incident. Is it panic buying or are there people taking advantage of the chaos? It’s hard to say at this point, but Upbit’s actions this time are indeed significant.