North Korean group linked to another major attack on South Korea’s top exchange

Core Insights - The crypto market has faced significant challenges in Q3 2025, with Bitcoin's price dropping from an all-time high of over $123,000 to around $90,000 [1] Industry Developments - Several companies in the crypto industry are shutting down or filing for bankruptcy, including DappRadar, which ceased operations due to financial unsustainability [2] - Rental Coins, a Brazilian crypto firm, has filed for Chapter 15 bankruptcy in the U.S. to recover its assets [2] - Bitfarms Ltd. announced plans to abandon Bitcoin mining operations in favor of AI by 2027 [3] Security Incidents - A leading crypto trading exchange has suffered a significant hack, resulting in millions of dollars lost [3] - Upbit, South Korea's largest crypto exchange, reported a loss of approximately $36.8 million due to a breach involving irregular withdrawals of Solana network assets [4] - Upbit has initiated an emergency security review and halted some services following the incident [4] Company Responses - Upbit's CEO stated that the exchange will fully compensate affected members with its own assets [5] - The exchange has moved remaining funds into cold storage to prevent further suspicious withdrawals and is working to freeze on-chain assets [5] - Naver Financial announced plans to acquire Upbit's parent company, Dunamu, in an all-stock deal valued at $10.29 billion [6]