Cryptocurrency exchange Upbit suffered a hack in which its security system misidentified a counterfeit coin as an Aptos token (APT). The incident caused shock and confusion in the crypto community.
As a result, on September 24, the exchange suspended all deposit and withdrawal transactions involving the Aptos (APT) token after discovering that some of them turned out to be counterfeit.
Due to a system error, the counterfeit tokens, allegedly linked to the fraudulent website ClaimAPT.com, hit nearly 380,000 wallets.
This information first appeared on the Definalist page on X (Twitter), which is owned by South Korean crypto traders.
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According to the Korean publication Web 3 Builders, the cryptocurrency exchange did not immediately detect the fake tokens and allowed trading with them. As a result, after the fake coins were discovered, Upbit asked the owners of about 100,000 accounts that sold the tokens to return their money.
However, it is worth noting that this incident did not affect the price of the Aptos token (APT), which, at this stage, rose by 6.7% and is trading at $5.45.
At the same time, cryptocurrency traders believe that a serious crisis was avoided only because the fake token had six decimal places, while the Aptos token had eight decimal places.
Read more: Bybit leaves the British market.
