If you're deep into the world of meme tokens on Solana, you've probably heard the buzz about the recent Upbit incident. The South Korean crypto exchange, one of the biggest players in the game, just disclosed a hack that drained around $37 million worth of assets from the Solana network. But don't panic just yet—Upbit is stepping up to cover the losses entirely from their own holdings, ensuring no direct hit to user funds.

What Happened at Upbit?

It all started with some suspicious activity detected in their digital asset deposit and withdrawal services. According to Upbit's official notice, they spotted abnormal withdrawals and immediately halted operations to investigate. The CEO, Oh Kyung-seok, issued a statement apologizing for the inconvenience and explaining that a comprehensive inspection is underway to safeguard member assets.

The hack targeted specific Solana-based tokens, with funds transferred to an unknown external wallet around November 27, 2025, at 04:42. Upbit confirmed the breach involved approximately 54 billion won (that's about $37 million USD) in various assets. They've promised to reimburse the full amount using their own reserves, so users shouldn't see any deductions from their balances.

The Affected Meme Tokens and Assets

This breach hit a mix of established Solana projects and hot meme coins, highlighting vulnerabilities in the ecosystem. Here's a breakdown of the targeted digital assets mentioned in the notice:

• Double Zero (ZZ)​: A quirky meme token playing on zero-sum games.
• Access Protocol (ACS)​: More of a utility token for content access, but caught in the crossfire.
• Bonk (BONK)​: The dog-themed meme that's been a Solana staple, known for its community-driven hype.
• Doodles (DOOD)​: Tied to the NFT collection, blending art and memes.
• DRIFT (DRIFT)​: A decentralized exchange protocol on Solana.
• Huma Finance (HUMA)​: Focused on real-world asset lending.
• Ionet (IO)​: A network for decentralized computing.
• Jito (JTO)​: Involved in Solana's staking and MEV (miner extractable value) solutions.
• Jupiter (JUP)​: A popular DEX aggregator on Solana.
• Solaire (LAYER)​: Likely a layer-related token in the Solana space.
• Magic Eden (ME)​: The leading NFT marketplace on Solana.
• Cat in a Dog World (MEW)​: A fun, animal-themed meme coin that's gained traction.
• MOODENG: Another rising meme, often associated with playful internet culture.
• ORCA: A DEX for automated market making.
• Fudge Penguin (PENGU)​: Penguin-inspired meme token, waddling into the spotlight.
• Peace Network (PYTH)​: Provides oracle data for DeFi.
• Radium (RAY)​: From Raydium, a key AMM on Solana.
• Render Token (RENDER)​: For distributed GPU rendering.
• Solana (SOL)​: The native token of the blockchain itself.
• SonicSVM (SONIC)​: A high-performance SVM layer.
• SOON: Possibly a meme or upcoming project token.
• Official Trump (TRUMP)​: Politically themed meme coin.
• USD Coin (USDC)​: The stablecoin staple.
• Wormhole (W)​: Cross-chain bridging protocol.

Many of these are meme-heavy, like BONK, MEW, MOODENG, and PENGU, which thrive on viral trends and community engagement. The incident underscores how even fun, lighthearted tokens can get tangled in serious security issues.

Implications for Meme Token Holders

For anyone holding these tokens, especially on Upbit, the good news is that the exchange is absorbing the loss. Services were suspended temporarily, but they're working to resume normal operations after the inspection. This event serves as a reminder of the risks in crypto—hacks can happen to even the most reputable platforms.

If you're trading Solana memes, consider diversifying across exchanges and using hardware wallets for long-term holds. Events like this can cause short-term price dips due to fear, uncertainty, and doubt (FUD), but they also often lead to stronger security measures in the long run.

Staying Safe in the Meme Token Space

As meme tokens continue to explode in popularity on chains like Solana, staying informed is key. Follow reliable sources for updates, and always double-check wallet addresses before transactions. Upbit's quick response here shows that established exchanges prioritize user protection, but vigilance from your end is crucial.

Keep an eye on the Solana ecosystem for any ripple effects from this hack. If you're new to memes, start with understanding the basics: these tokens are high-risk, high-reward, driven more by hype than fundamentals.

For more insights on meme tokens and blockchain news, stick around at Meme Insider—we've got your back on the latest trends and tips to level up your crypto game.