Solana Tokens Jump on Upbit After $32M Hack Halts Arbitrage

Published at 2025-11-27 21:00:08

Solana tokens (SOL) posted double-digit gains on Upbit by mid-afternoon in South Korea after a hack drained roughly 44.5 billion won (~$32 million) and disrupted automated arbitrage systems. CryptoQuant CEO Ki Young Ju identified Korean traders as the immediate drivers of the rally once the bots that normally align local and global prices stopped operating.

The move highlights how fragile price parity can be when liquidity providers and arbitrageurs are offline — premiums can widen quickly and create volatile pockets of buying interest. Market participants and exchanges are likely to watch for sharp reversals if arbitrage flows resume, while regulators and platforms investigate the breach and its impact on trading infrastructure.

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Poland’s Warsaw Stock Exchange has approved four exchange-traded products tied to BTC, ETH, SOL and XRP, moving ahead despite stalled national crypto legislation. The listings could expand regulated retail access and attract institutional flows in Eastern Europe.

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Published at 2026-02-28 10:45:11

SoFi Becomes First U.S. National Bank to Take Deposits on Solana

SoFi now allows true on-chain Solana (SOL) deposits for its 13.7 million customers under a federal bank charter, supporting direct wallet transfers rather than brokerage-style exposure. The move marks a first for a U.S. national bank and integrates native crypto rails under full federal oversight.

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Published at 2026-02-28 00:15:17

Magic Eden Drops Bitcoin and Ethereum Support, Goes All-In on Solana

Magic Eden announced it will end support for Ethereum-compatible and Bitcoin-based assets, winding down its multi-chain approach to focus solely on Solana. The move concentrates liquidity and product development around SOL but risks alienating ETH and BTC users.

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Published at 2026-02-27 19:01:21

Step Finance and SolanaFloor Shut Down After Late‑January Treasury Hack

Step Finance and SolanaFloor announced they are ceasing operations effective immediately following a late‑January treasury hack that impacted Step Finance. The closures represent a significant setback for early projects in the Solana ecosystem.

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Published at 2026-02-24 02:45:16

Solana AI Agent Accidentally Donates $441K in Meme Tokens

Lobstar, a Solana-based AI agent, unintentionally transferred $441,000 in its native meme tokens after a social media user asked for a 4 SOL donation; the recipient sold immediately and triggered a sharp price crash. The token later recovered and the episode increased visibility for the project.