Naver’s Crypto Catastrophe: Upbit Hack Turns $10.27B Deal into a $30M Heist Headache
Naver’s acquisition of cryptocurrency exchange Upbit took a comedic turn when the newly acquired exchange revealed a cyberattack, losing $30 million. It’s like buying a new car only to realize the wheels were sold separately. Naver’s investment optimism might need a little emergency maintenance of its own after this unexpected plot twist.
Hot Take:
***Naver’s acquisition of Upbit is like buying a brand-new convertible, only to find out the next day it’s been stolen. Who knew a crypto exchange could turn into a “crypt-no” exchange overnight?***
Key Points:
– Naver buys Dunamu Corp, the operator of Upbit, a cryptocurrency exchange.
– Upbit suffered a cyberattack right after the acquisition, losing $30 million.
– Upbit halted Solana cryptocurrency transactions for “emergency maintenance.”
– Upbit has been a target for North Korean hackers in the past.
– Naver might be feeling some serious buyer’s remorse.