Core Insights - Upbit, South Korea's largest crypto exchange, was hacked for $36 million shortly after Naver Financial's $10 billion acquisition of Dunamu, its operator [1][3] - Naver Financial's acquisition involves a $10.3 billion stock-swap deal, allowing it to acquire all of Dunamu's equity without cash payment [3] - The merger is projected to elevate Naver's fintech arm to a market value of $13.6 billion [4] Incident Details - Upbit confirmed an unauthorized withdrawal of Solana-based cryptocurrencies, including stablecoins, and has paused deposits and withdrawals [1][2] - Upbit will cover the entire amount lost in the hack from its own holdings, as stated by Dunamu's CEO [1] Industry Context - The hack at Upbit contributes to a record-setting year for crypto hacks, with total losses exceeding $2.4 billion, including a significant $1.5 billion hack of Bybit in February [5] - Established DeFi protocols, such as Balancer, have also faced security breaches, highlighting ongoing vulnerabilities in the crypto space [6]