Upbit, which is basically South Korea’s biggest crypto exchange, just got hit with a major hack early Thursday morning their time – we’re talking about $36.8 million (that’s around 54 billion won).
The company noticed something suspicious occurring around 4:42 AM, when a large amount of cryptocurrency was withdrawn through the Solana network and sent to a mystery wallet they can’t identify. They immediately shut down all withdrawals and deposits to investigate what had happened.
Upbit(@Official_Upbit) has been hacked — 54B KRW (~36.8M USD) in assets on #Solana have been transferred to unknown wallets.https://t.co/plbmBz2G4Nhttps://t.co/YOHoqDVfqa pic.twitter.com/DM5BxSTtXA
— Lookonchain (@lookonchain) November 27, 2025
A whole bunch of different tokens got swiped – SOL, USDC, TRUMP, and like 20 other ones, including some meme coins like BONK and MOODENG.
The good news? Upbit moved everything else to secure cold storage pretty quickly and managed to freeze about $8.2 million worth of LAYER tokens. They’re working with the token projects and law enforcement to try and freeze the rest of the stolen stuff.
On the bright side, Upbit says they’ll cover all the losses from their own reserves, so regular users won’t actually lose any money. They haven’t spilled the beans yet on exactly how the hackers got in or what went wrong on their end.
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Orca Crypto Pumps Upon The Accident
So here’s what went down with ORCA after that Upbit hack on Nov. 27 – traders basically saw it was one of the stolen tokens and immediately started shorting it. They are betting everyone would freak out and sell.
But plot twist: funding rates went super negative (like -0.1376%), which means way too many people are shorting it. When that happens, it can actually push the price up instead of down because shorts have to pay longs to hold their positions.
On the chart side, ORCA actually broke out above a falling wedge pattern and pushed back above $1.45. Which is a key technical level (the 23.6% Fibonacci retracement if you’re into that).
Now, a bunch of traders are eyeing this as a potential short opportunity. The RSI is at 61 – not crazy overbought yet, but getting up there. The thinking is: if ORCA drops back into that wedge pattern it just broke out of, we could see it dump back down to around $1.06, where it was before.
Basically, it’s a gamble. Either those shorts get squeezed and push the price higher, or people start taking profits, and it crashes back down.
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Bitcoin Hyper Might Be The Better Buy Than ORCA
Bitcoin Hyper is starting to get the kind of attention you usually see after a big catalyst hits the market. While the space is dealing with hacks, volatility, and unstable liquidity, this project is pulling in capital and showing real growth.
It recently secured 28.58 million dollars in funding, and that is not small money. It shows that bigger players see actual long-term potential here instead of just another speculative hype cycle.
The other thing that separates it is the reward structure. The ecosystem offers a 40% APY, which is why a lot of investors are treating it as one of the stronger yield plays right now. In a market where most projects struggle just to secure confidence, Bitcoin Hyper is going the opposite direction and building a foundation early.
With fresh capital, strong participation, and a clear direction, it is lining up to be one of the names people start talking about more as sentiment improves. The setup is simple. While everyone else is reacting to bad news, Bitcoin Hyper is getting stronger.
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Key Takeaways
- Upbit covers the hack losses, which keeps user confidence steady despite the mess.
- ORCA pumped because shorts piled in too heavy and funding flipped against them.
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