Upbit Exchange Disrupted by Counterfeit Token Deposit. $3.4 Billion in Transactions Affected

Upbit Exchange Disrupted by Counterfeit Token Deposit. $3.4 Billion in Transactions Affected



Upbit, a cryptocurrency exchange in South Korea has encountered a situation where they were tricked into accepting fake tokens causing disruptions to their usual operations.



On September 24th Upbit temporarily halted the deposit and withdrawal services for Aptos (APT) tokens after discovering that some of these tokens were counterfeit. It appears that an unidentified party managed to deposit these tokens, which were mistakenly recognized as genuine APT tokens by Upbits systems. Consequently these false tokens with the label "ClaimAPTGift" ended up being distributed to accounts.



This incident came to light through an account called "Definalist," which is run by a group of Korean crypto traders. Upbit finds itself in a state of chaos and uncertainty due to this situation. According to Web3 Builders, a news source specializing in


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#Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Korea, #News, #Regulations, #SouthKorea

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