The cryptocurrency landscape was largely bullish today, November 27.
Bitcoin tested $92,000 as most tokens traded higher during the early sessions.
Also, notable gains from the top coins BNB (+4%), Solana (+5%), and Avalanche (+7%).
Upbit revises losses from today’s hack to $30.4M
Amidst the optimistic price performance, Upbit confirmed an abnormal outflow on the Solana blockchain early on November 27 at around 04:42 KST.
The initial reports estimated the incident to have led to losses of 54 billion KRW (roughly $37.5 million).
However, the team revised that number after initial assessments.
Upbit has now placed the loss at about 44.5 billion KRW ($30.43 million), with another 2.3 billion KRW ($1.57 million) frozen with investigations underway.
🚨 UPDATE: Upbit has revised its Solana-related loss to $30.4M with $1.57M frozen.
Korea’s FSA to conduct an on-site inspection through Dec. 5.
Upbit is a leading cryptocurrency exchange in South Korea.
Thus, an irregular transaction can trigger immense losses.
Meanwhile, the team reacted quickly to prevent more damage.
The trading platform immediately suspended withdrawals associated with the affected tokens, which included MOODENG, SOL, and JUP.
Upbit reassured users that their funds were safe, highlighting that the irregular activity targeted operational reserves.
Most importantly, regulators have already stepped in.
The country’s Financial Supervisory Services has deployed its Virtual Asset Supervision Bureau to conduct an on-site inspection at Upbit headquarters.
The investigation will run until December 5 to determine what caused the breach.
Meanwhile, Upbit has announced plans to compensate victims of today’s attack.
Dogecoin ETF inflows crash after launch
While cryptocurrency exchange-traded funds held steady today, the newly launched Dogecoin ETF presented a striking performance.
The product attracted inflows of roughly $1.8 million on the first day.
However, the momentum evaporated quickly with day-two inflows coming in at $365,420 on November 26.
That represents a staggering 80% slide, which indicates a sharp cooldown in optimism.
Meanwhile, Grayscale’s GDOG, which went live early this week, saw only $2.16 million in total inflows yesterday.
The cooldown has come faster than anticipated.
Analysts had highlighted the ETF’s potential in transforming the meme token into a serious financial instrument.
For critics, this performance reflects a familiar pattern. Meme products witness explosive initial hype followed by rapid cool-offs.
DOGE is trading at $0.15, underperforming the broader market with its 0.90% increase in the past 24 hours.
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