Bithumb and Upbit Suspend DRIFT Transactions Amid Security Incident

Severity: Medium (Score: 51.8)

Sources: Cryptorank

Summary

On March 15, 2025, Bithumb suspended all deposit and withdrawal services for the Drift (DRIFT) token due to a potential security incident detected by its security team. This action was mirrored by Upbit, another major South Korean cryptocurrency exchange, which also halted DRIFT transactions citing similar security concerns. Both exchanges noted unusual activity patterns in their transaction monitoring systems, prompting immediate protective measures. The suspensions affect all users attempting to deposit or withdraw DRIFT tokens, although trading pairs involving DRIFT remain active. Neither exchange has provided a timeline for restoring full functionality, emphasizing that user funds are secure during the ongoing investigations. The Drift Protocol, built on the Solana blockchain, has gained traction in decentralized finance but poses complex security challenges for centralized exchanges. The incident reflects broader security vulnerabilities in the cryptocurrency sector, which has seen numerous similar events in the past. Key Points: • Bithumb and Upbit suspended DRIFT transactions due to detected security incidents. • Both exchanges are investigating unusual activity patterns affecting DRIFT token transactions. • User funds are reported to be secure, but no timeline for service restoration has been provided.

Key Entities

• Data Breach (attack_type)
• Phishing (attack_type)
• Bithumb (company)
• Upbit (company)
• South Korea (country)
• T1566 - Phishing (mitre_attack)