Prabang said it suspended services at its South Korean crypto exchange after unauthorized hot-wallet access, disrupting service as it reviews customer losses and prepares compensation.
The current loss estimate is about $70,000, but Prabang said the total remains unverified. Prabang said it found a security weakness during its review and described the incident as unauthorized external access.
Prabang said it notified relevant authorities on Oct. 26. It traced the first warning signs to Oct. 24, when the wallet showed withdrawals it considered irregular, and said it began an emergency response.
Prabang said services had been halted while it assessed the incident and worked out compensation. It described the pause as a measure to protect customer assets.
Prabang said it would cover customers’ verified losses using company assets. The verified total will determine the compensation amount, leaving the $70,000 figure as an initial estimate rather than a confirmed payout.
