PANews reported on December 10th that South Korean cryptocurrency exchange Upbit announced that as of the end of October 2025, Upbit's hot wallet custody rate was only 1.67%, while the cold wallet custody rate reached 98.33%. According to the Virtual Asset User Protection Act, cryptocurrency business operators must hold at least 80% of their customers' deposited digital assets in cold wallets. As part of strengthening the company's overall security system, Upbit has completed a re-examination and redesign of its wallet system and plans to further reduce the hot wallet percentage to around 0% in the future.

In November, it was reported that Upbit had lost over 44.5 billion won due to a stolen hot wallet .