Upbit’s recent $36 million Solana hot wallet hack underscores the evolving role of hot wallet insurance in crypto exchange security. After detecting unauthorized withdrawals, Upbit’s CEO pledged that all losses would be covered from the company’s own holdings, mirroring its response to a $50 million Ethereum hack in 2019.

On Nov. 3, 2025, decentralized exchange Balancer—long considered one of DeFi’s more conservative, infrastructure-grade protocols—suffered a multi-chain exploit that drained an estimated $128 million from pools spanning Ethereum, Berachain, Arbitrum, Base, Optimism, Polygon, and Sonic.