W 58 bln worth of cryptocurrency stolen from S . Korean exchange SEOUL , Nov . 27 ( Yonhap ) -- About 58 billion won ( US $ 49 . 3 million ) worth of cryptocurrency was stolen on Wednesday from Upbit , a South Korean exchange , in a cyberattack , the exchange ' s operator said . The company , Dunamu Inc . , said deposit and withdrawal services were immediately halted after the finding . " At 1 : 06 p . m . , 342 , 000 Ethereum worth 58 billion won , were transferred from the Upbit Ethereum Hot Wallet to an unknown wallet , " it said in a statement posted on the website of its exchange under the name of its CEO , Lee Seok - woo . " We took action right after detecting it . " The value of the lost cryptocurrency is expected to mark the largest in South Korea . Last year , Bithumb , the biggest cryptocurrency exchange in the country , lost some 35 billion won worth of coins in a hacking attack . The loss will be compensated by Upbit ' s own reserves , the company said . It also noted that all cryptocurrencies in its hot wallets have been transferred to cold wallets , which are safer because they are not connected to the internet . The corporate logo of Upbit ( PHOTO NOT FOR SALE ) ( Yonhap ) brk @ yna . co . kr ( END )