Crypto exchange UpBit temporarily suspends Aptos withdrawals due to scam token bug
Quick Take
- UpBit, South Korea’s largest crypto exchange, temporarily suspended deposits and withdrawals of Aptos after its systems reportedly credited a scam token as legitimate.
- The exchange has since resumed normal operations.
UpBit, the largest crypto exchange in South Korea, halted deposits and withdrawals of Aptos (
APT
+0.74%
) due to a system error that credited a scam token as equivalent to legitimate Aptos tokens, according to user reports.
UpBit acknowledged in a statement that its system detected abnormal deposit attempts and temporarily suspended deposits and withdrawals while it fixed the error, which was first reported by X account Definalist.
The problem appears to have originated with a scam token directing users to a fraudulent website, ClaimAPTGift.com, which was airdropped to nearly 400,000 Aptos wallets, blockchain data show. A screenshot reportedly shows UpBit crediting the fraudulent token as the same as a native APT token.
The technical issue led the price of APT to spike over 35% on ByBit before crashing back down three hours later. Aptos is the trading pair with the highest volume on UpBit in the last 24 hours, according to CoinGecko.
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