The Korean side accuses Binance of not fully freezing the stolen assets from Upbit, only freezing about 17%

According to KBS, Binance received a request from the South Korean police to freeze the cryptocurrency assets stolen from Upbit by hackers, but ultimately only assisted in freezing a portion of them.

After the South Korean police confirmed the flow of some of the stolen funds to Binance on the day of the incident, they requested Binance to freeze approximately 470 million Korean won worth of Solana tokens. However, Binance only froze 17% of the requested amount (about 80 million Korean won), citing "the need for further verification of the facts" and delayed the completion and notification by about 15 hours.

Subsequently, Binance's official response stated:

The claims regarding "Binance's delayed response" or "insufficient action" are not true. Binance's security and investigation team identified the relevant incident immediately and took measures to assist in freezing the related transfers to prevent further fund movement.

We have maintained close cooperation with local law enforcement agencies and relevant partners, continuously monitoring the situation and providing support as needed. Any claims that we "did not take effective action in a timely manner" are unfounded and inaccurate. Binance will continue to cooperate with relevant institutions and partners as appropriate.