Upbit Resumes Aptos Deposits and Withdrawals After Scam Token Incident
South Korean cryptocurrency exchange Upbit has restarted Aptos (APT) deposits and withdrawals following a temporary suspension caused by the infiltration of a scam token.
On September 24, Upbit halted Aptos withdrawals and deposits due to an abnormal deposit attempt, which triggered an immediate investigation into their wallet system.
The issue arose from a fraudulent APT token called “ClaimAPTGift.com,” which managed to infiltrate around 400,000 Aptos wallets soon after its creation on September 21.
This fake token is believed to be part of a typical token airdrop scam, where users are enticed with free tokens that contain malicious links redirecting them to phishing websites.
Upbit Mistakenly Identified Fake Tokens as Real Aptos Tokens
Upbit’s mistake can be traced back to its failure to properly verify the source code of these counterfeit tokens. As a result, the exchange mistakenly recognized the fake tokens as legitimate Aptos tokens.
This error allowed users who sold the fraudulent APT tokens to profit at the expense of others. In response, Upbit’s customer center is now seeking refunds from those who sold the scam tokens.
Upbit Confirms APT Deposits and Withdrawals Have Resumed
Upbit has confirmed the resumption of APT deposits and withdrawals after conducting a thorough inspection of its wallets on September 24 at 11:00 PM local time.
The South Korean exchange assures its users that their Aptos transactions are secure, although there may be delays in processing and temporary price fluctuations in APT tokens compared to other exchanges.
According to CoinGecko data, APT is currently trading at $5.44, with a 6.54% increase in the last 24 hours.
Upbit Adds GLMR to Its Listing
Upbit has announced that it will support GLMR trading, including the GLMR/BTC trading pair.
The platform will start accepting GLMR deposits today, exclusively from the Moonbeam Network.
This announcement has had an immediate impact on the value of GLMR, as the token has surged to approximately $0.23, marking a 35% increase in the past 24 hours.
Hot Take: Upbit Resumes Aptos Transactions and Adds GLMR Trading
South Korean exchange Upbit has resolved the security issue that led to the temporary suspension of Aptos withdrawals and deposits. After investigating the infiltration of a scam token, Upbit has resumed Aptos transactions and assured users of their security. However, there may be delays in processing and temporary price fluctuations in APT tokens compared to other exchanges.
In addition, Upbit has added support for GLMR trading, including the GLMR/BTC trading pair. This move has already had a significant impact on GLMR’s value, with the token experiencing a remarkable surge in the past 24 hours.
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