USDe Listing Date and Trading Details

Upbit stated that USDe will be listed on the platform on January 14, 2026, at 12:00 (TSI). From this date onward, investors will be able to buy and sell USDe in their preferred trading pairs and benefit from the low-volatility advantage provided by the stablecoin. This enables investors to manage their portfolios more safely, especially in highly volatile crypto markets.

The listing not only increases accessibility for investors but also reinforces USDe’s reliability and fast trading infrastructure. As a result, users will be able to carry out stablecoin transactions smoothly on a secure, high-speed platform. This move strengthens the visibility of the Ethena ecosystem and enhances USDe’s liquidity, allowing it to play a more active role in the crypto market.

What Is Ethena USDe (USDe)?

Ethena is a synthetic dollar protocol built on the Ethereum blockchain that offers USDe, a scalable and censorship-resistant digital currency solution for the crypto world. It also provides sUSDe, a globally accessible dollar-denominated savings asset that allows users to earn rewards.

Ethena aims to bridge decentralized finance (DeFi) and centralized finance (CeFi). USDe is a synthetic dollar backed through a delta-neutral strategy using spot assets such as Bitcoin, Ethereum, and Solana, as well as liquid stablecoins like USDC and USDT. This approach helps keep USDe’s value relatively stable by balancing spot holdings with derivatives positions.

The Importance of USDe in the Crypto Market

As a stablecoin supported by the Ethena ecosystem, USDe offers investors a reliable store of value against crypto market volatility. With its listing on Upbit, USDe becomes more accessible to both retail and institutional investors. The ability to trade in KRW, BTC, and USDT pairs enables users to diversify their portfolios and implement various investment strategies using a stablecoin.

Experts note that stablecoins often act as a safe haven in volatile crypto markets. The listing of USDe on Upbit strengthens investors’ risk management capabilities while encouraging broader adoption of the Ethena ecosystem.

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Solana-Based Tokens Transferred to an Unknown Wallet

According to Upbit, the attack was detected around 04:42 KST (23:42 TSI) when an unusual token movement was observed in the system. Initial investigation revealed that various Solana-based tokens were rapidly withdrawn from the platform and sent to an unidentified external wallet. The fact that the movements targeted a single wallet in a coordinated fashion suggests that the attack was not random but a pre-planned and highly organized operation.

Upbit confirmed that 54 billion KRW (approximately $36 million) worth of assets on the Solana network were stolen. The compromised tokens include several popular assets in the Solana ecosystem such as SOL, BONK, PYTH, ORCA, RAY, JTO, USDC, and many others. The attack impacted more than 20 tokens in total, including 2Z, ACS, DOOD, DRIFT, HUMA, IO, JUP, LAYER, ME, MEW, MOODENG, PENGU, RENDER, SONIC, SOON, TRUMP, and W.

Upbit Moves Assets to Cold Wallets; $8.18 Million Frozen in Initial Response

Upon detecting the breach, Upbit immediately transferred all hot wallet assets to cold wallets as an additional security precaution. The exchange also contacted various projects within the Solana ecosystem to initiate token freeze procedures.

The first successful result came from the freezing of LAYER tokens worth $8.18 million. Upbit continues to coordinate with project teams and regulatory authorities to freeze additional stolen assets and prevent the stolen funds from being moved further.

Upbit: “We Will Not Allow Any User Losses”

In its official statement after the attack, Upbit reiterated that all user funds would be fully protected. The exchange stated that it will compensate all losses using its own reserves, ensuring that customers do not suffer any financial impact. This approach aligns with previous strategies adopted by Korean exchanges when handling security incidents in the past.

Investigation Into the Source of the Attack

Upbit has not yet disclosed technical details regarding how the exploit occurred. The platform stated that it is conducting a comprehensive investigation to determine the exact vulnerability that enabled the attack. Experts note that the focus on Solana may not be a coincidence, as Solana’s high transaction throughput could have been leveraged by attackers. However, whether the breach stemmed from an internal technical flaw or an external malicious compromise will become clearer in the coming days.

Upbit also confirmed that a total of $38.5 million worth of assets were transferred to the unknown wallet on November 27. The exchange has suspended all platform operations until the security renewal process is fully completed. Upbit emphasized that its team is working 24/7 during this period to ensure maximum protection of user funds.

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This transaction took place under new regulations allowing institutional investors and non-profit organizations to sell crypto assets. According to Upbit’s parent company Dunamu, the ETH was held by the organization’s President, Myung-hwan. 

FSC Approves Non-Profit Crypto Sales

The Financial Services Commission (FSC) permitted non-profit organizations to sell crypto donations starting June 1. This enables organizations to quickly convert crypto assets received as donations into cash. Crypto exchanges will also convert the assets collected from transaction fees into fiat currency. The crypto assets allowed for sale in South Korea are limited to digital currencies ranked within the top 20 by market size on the country’s five leading won-based exchanges. Additionally, exchanges are required to prevent conflicts of interest with users and minimize their impact on the market.

The FSC approved the new rules on May 20. With this step, crypto sales became possible for non-profit organizations. The FSC plans to implement more comprehensive regulations in the second half of 2025. However, transactions must use real-name accounts and comply with anti-money laundering (AML) regulations. 

This regulation is part of South Korea’s gradual lifting of crypto bans. The FSC will introduce broader rules to allow publicly traded companies to participate more easily in crypto trading. Thus, South Korea is entering an important new era in the crypto market. Non-profit organizations can now sell crypto donations, enabling greater resource diversification. 

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Upbit COMP Listing: What You Need to Know

1. Buying orders will be restricted for the first 5 minutes after the trading starts.
2. Selling orders below -10% of the previous day’s closing price will be restricted for the first 5 minutes.
3. Only limit orders will be allowed for the first hour, with market and stop-limit orders disabled.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Important Deposit & Withdrawal Guidelines

• COMP deposits and withdrawals are only supported on the Ethereum network (ERC-20).
• Funds sent via unsupported networks may be lost or require a lengthy recovery process.
• Transactions must be made from wallets registered in your name.
• For large deposits, proof of funds may be required.

What Is COMP (Compound)?

Compound is a decentralized finance (DeFi) protocol built on Ethereum, enabling users to lend and borrow cryptocurrencies. Users can stake assets as collateral to borrow funds or lend assets to earn interest. Additionally, COMP tokens are used for governance participation and rewards within the protocol.

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Among them, Tezos (XTZ) pops out with its hourly transaction volume jumping by 262.51% to $26,000, much beyond its regular $7,000 average. This increase is very unlike Binance, where Tezos saw a little 6.45% reduction in trading volume, thus stressing a clear contrast in trader behavior between the two exchanges.

Trading volume for another cryptocurrency, STP (STPT), on Upbit jumping 162.25% from $249,000 to $654,000 also showed a notable rise. Surprisingly, this increase corresponds with Binance’s 24.42% decline in STP’s trading activity, indicating a change in trade focus toward Upbit.

From $3 million to $9 million, Hedera (HBAR) also saw a roughly 300% gain over four hours, and trading volume on Upbit also increased fairly dramatically. Over the same time, Binance saw a lower but still notable 40.95% rise in HBAR transaction volume.

From a $8,000 average to $23,000, Ethereum Name Service (ENS) saw over quadruple trading volume on Upbit, a 193.9% increase. With a 33.56% volume rise, ENS also became very popular on Binance. Recent Ethereum co-founder Vitalik Buterin’s platform transactions could have bearing on the increase in ENS activity.

At last, Kava (KAVA) saw an astonishing 256.18% growth in hourly trading volume on Upbit as it surged from $52,000 average to $186,000. On Binance, kava trade only showed a meager 5.73% gain instead.

Unlike the more subdued numbers of Binance, these notable trading volume gains on Upbit signal to different market trends and preferences among South Korean traders, so Upbit is an important exchange to keep an eye on in the changing altcoin scene.

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This asset disaster that Upbit faced, the largest crypto exchange in South Korea, also emerged with the discovery of a fake deposit in the early hours of Sunday. Additionally scammers successfully managed to deposit a fake token onto the platform by portraying it as a real Aptos (APT) token.

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While the real APT has a price with eight decimal places, the fake APT asset had a price with six decimal places and Upbit, noticed this difference quickly, thus contributing to the prevention of a serious crisis. According to Definalist’s estimate, if the fake coin had a price with eight decimal places, thousands of investors could suffer significant losses and this could have led to Upbit’’s bankruptcy.

Amazing Korean exchange upbit incident today

1. The Largest S.Korean exchange @Official_Upbit , abruptly halted Aptos' deposits and withdrawals, citing a wallet system maintenance without any specific reason

2. Various Korean users have posted authentication claiming that they… pic.twitter.com/OjfCwhB4eV

— Definalist (@definalist) September 24, 2023

According to social media shares, people claim that a flaw in the system is identifying all transactions as the same APT token. So this flaw appears to have caused the Aptos ecosystem to incorrectly classify any cryptocurrency transfer to the Upbit wallet as the APT local token.

After the incident, the exchange managers are making efforts to resolve the issue and are requesting a refund from those who led to the fake token swap.

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