Upbit disclosed that at 13:06 KST on 27 November 2019, 342,000 ETH, worth about 58 billion won, was transferred from its Ethereum hot wallet to an unknown wallet. The exchange said customer assets would not be affected because it would cover the loss with company funds, and it moved all hot-wallet cryptocurrency holdings to cold wallets while suspending deposits and withdrawals for an estimated two weeks. Upbit asked other exchanges and cryptocurrency operators to block deposits from the recipient wallet 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029 and requested reports on the suspicious transaction or related wallet activity.