Corporate Logo(source: m-logoproject.naver.com)
NAVER(035420) closed lower on November 27, giving up the prior day’s gains after reports surfaced that approximately 54 billion won worth of assets had been stolen in a hacking incident at Upbit, operated by Dunamu. The news appeared to dampen investor sentiment.
According to the Korea Exchange, NAVER finished at 251,500 won, down 12,000 won (4.55%) from the previous session, reversing the previous day’s 4.15% rise.
A large-scale hacking incident occurred at Upbit, a leading domestic virtual-asset exchange, resulting in the illicit outflow of virtual assets worth 44.5 billion won. It was the most significant security breach in six years.
Dunamu, the operator of Upbit, stated, “Around 4:42 a.m. today, we identified signs that certain Solana network–related assets had been transferred from Upbit to an undesignated wallet address (an unknown external wallet). We have since moved all assets to secure cold wallets to prevent further abnormal transactions.”
Dunamu added, “The scale of losses from the abnormal withdrawal was identified immediately, and the company will fully cover the loss using its own assets so that no customer suffers any damage.”
NAVER announced the previous day that its board of directors approved a comprehensive share-swap agreement between Dunamu and NAVER Financial. The valuation ratio between the two firms was set at 3.06 to 1. Dunamu’s assets amount to more than 15 trillion won, compared with NAVER Financial’s 3.9 trillion won—making Dunamu roughly four times larger based on asset size.
Market attention was high on the emergence of a 20-trillion-won fintech giant, and NAVER had closed 4.15% higher at 263,500 won the previous day.
*[KOSPI] NAVER(035420) is Korea's leading portal service provider, with a total of 98 affiliated subsidiaries including Naver Financial, Naver Webtoon, Snow, and Naver Jet. It is an ICT company that engages in businesses such as content, advertising, commerce, fintech, and cloud services. The market capitalization is 39.448 trillion won (as of November 27, 2025, closing price).
Corporate Logo(source: m-logoproject.naver.com)
NAVER(035420) closed lower on November 27, giving up the prior day’s gains after reports surfaced that approximately 54 billion won worth of assets had been stolen in a hacking incident at Upbit, operated by Dunamu. The news appeared to dampen investor sentiment.
According to the Korea Exchange, NAVER finished at 251,500 won, down 12,000 won (4.55%) from the previous session, reversing the previous day’s 4.15% rise.
A large-scale hacking incident occurred at Upbit, a leading domestic virtual-asset exchange, resulting in the illicit outflow of virtual assets worth 44.5 billion won. It was the most significant security breach in six years.
Dunamu, the operator of Upbit, stated, “Around 4:42 a.m. today, we identified signs that certain Solana network–related assets had been transferred from Upbit to an undesignated wallet address (an unknown external wallet). We have since moved all assets to secure cold wallets to prevent further abnormal transactions.”
Dunamu added, “The scale of losses from the abnormal withdrawal was identified immediately, and the company will fully cover the loss using its own assets so that no customer suffers any damage.”
NAVER announced the previous day that its board of directors approved a comprehensive share-swap agreement between Dunamu and NAVER Financial. The valuation ratio between the two firms was set at 3.06 to 1. Dunamu’s assets amount to more than 15 trillion won, compared with NAVER Financial’s 3.9 trillion won—making Dunamu roughly four times larger based on asset size.
Market attention was high on the emergence of a 20-trillion-won fintech giant, and NAVER had closed 4.15% higher at 263,500 won the previous day.
*[KOSPI] NAVER(035420) is Korea's leading portal service provider, with a total of 98 affiliated subsidiaries including Naver Financial, Naver Webtoon, Snow, and Naver Jet. It is an ICT company that engages in businesses such as content, advertising, commerce, fintech, and cloud services. The market capitalization is 39.448 trillion won (as of November 27, 2025, closing price).