• Upbit has cancelled Hemi (CRYPTO:HEMI) trading after a September 7 exploit stole about 124.5 million tokens.
• The attacker converted much of the stolen HEMI into about US$255,000 in stablecoins.
• Upbit has said it will strengthen pre-listing reviews after cancelling the scheduled launch.

Upbit has cancelled Hemi (CRYPTO:HEMI) trading after a September 7 smart-contract exploit removed about 124.5 million unclaimed HEMI tokens.

The attacker exploited a reentrancy vulnerability in Hemi’s legacy Genesis Drop contract and repeatedly triggered the claim process before its accounting updated.

The stolen tokens have been sold, generating about US$255,000 in stablecoins before the proceeds were moved across several blockchain networks and converted…