Upbit $30 Million Hack Update: Authorities Link Breach To North Korean Hackers

The flow of capital into spot Bitcoin and Ethereum ETFs has shown signs of recovery, marking the first week of net-positive inflows since October, following a prolonged period of outflows. This shift indicates a potential stabilization in institutional demand for these cryptocurrencies after a challenging month.

Ethereum developers are preparing for the Fusaka upgrade, the second significant upgrade of 2025, scheduled for December 3. This upgrade aims to enhance the network's capacity and efficiency, following the previous Pectra upgrade. The anticipation surrounding Fusaka is heightened by recent adjustments, including an increase in the block gas limit to 60 million.

The launch of Grayscale's spot Dogecoin ETF on November 24, 2025, was met with disappointing trading volumes, reaching approximately $1.4 million on its first day, significantly lower than analysts' expectations. This muted response reflects a lack of enthusiasm in the market despite the anticipation surrounding the first-ever Dogecoin ETF.

India is currently reviewing its Virtual Digital Assets (VDA) framework to enhance investor protections and align local regulations with global standards. This review is part of a broader effort to reinforce the digital asset infrastructure in the country without implementing sweeping changes.

Ethereum's price has recently stabilized around $3,000 after a significant rebound in the broader cryptocurrency market, gaining 7.22% following a prolonged correction that saw its value drop from $4,700 to as low as $2,900. This recovery coincides with a notable decrease in open interest in Ethereum futures, which fell from $21 billion to approximately $17 billion in late November.

Ethereum's price has recently declined significantly, trading at around $3,000, which marks a nearly 40% drop from its peak this year. This downturn aligns with a broader crypto market crash, raising concerns about the stability of Ethereum as it approaches the Fusaka upgrade scheduled for December 3.

Upbit, South Korea's largest cryptocurrency exchange, has initiated an accelerated security overhaul following a cyberattack that resulted in the unauthorized withdrawal of approximately $36 million from its Solana network. The exchange has temporarily suspended all deposits and withdrawals as investigations continue into the breach, which authorities suspect is linked to North Korea's Lazarus Group.

Ethereum ETFs experienced significant outflows totaling $1.4 billion in November, reflecting a retreat by investors amid increasing caution and volatility in the cryptocurrency markets. This trend indicates a growing wariness among investors regarding the stability of Ethereum as a viable investment option.