Upbit Slaps Trading Caution on MultiversX Amid Network Exploit

The South Korean exchange Upbit has designated all MultiversX (EGLD) trading pairs as 'trading caution' items after a mainnet exploit forced the network to halt block production. The exchange suspended EGLD deposits and withdrawals on September 19 at 5:47 p.m. KST, warning that it may terminate EGLD trading support entirely if the incident remains unresolved.

The vulnerability exploited by the attacker allowed invalid state changes to settle on the ledger, particularly dangerous on MultiversX's sharded, parallel-processing architecture. Developers paused block production on September 19 to prevent new transactions from stacking on top of corrupted records.

Co-founder Beniamin Mincu said that 'the attacker's accounts have been identified, seized and frozen' in coordination with major global exchanges. He also stated that funds are safe and that law enforcement is involved. No confirmed financial losses have been publicly disclosed.