Bithumb issues an emergency announcement to suspend withdrawals to Upbit

According to Bithumb exchange, South Korean cryptocurrency exchange Upbit experienced a large-scale abnormal outflow of virtual assets in 2025, with a significant amount of crypto assets being irregularly transferred to external wallets. As a result of this hacking incident, Upbit has suspended all deposit and withdrawal services for virtual assets.

Bithumb stated that based on the relevant provisions of Article 17, Paragraph 1 of the Implementation Order of the "Virtual Asset User Protection Act," it will suspend withdrawal applications to the exchange until Upbit resumes its withdrawal services. Bithumb emphasized in the announcement that all services of the exchange are currently operating normally, including deposit and withdrawal, trading, and storage services, which have not been affected.