More than 100 billion coins were stolen from Upbit, the biggest South Korean crypto exchange, during a recent hacking incident.

According to data obtained by Rep. Kang Min-kuk of the People Power Party from the Financial Supervisory Service on Sunday, the theft occurred between 4:42 a.m. and 5:36 a.m. on November 27.

During that 54-minute period, approximately 106-point-06 billion coins were transferred to unidentified external wallets, an outflow amounting to roughly 32 million coins per second.

The total value of the stolen assets was estimated at about 44-point-five billion won, or about 30-point-25 U.S. dollars, consisting of roughly 38-point-six billion won in customer assets and five-point-nine billion won in company assets.

Upbit first reported the incident by phone at 10:58 a.m., nearly six hours after detecting the abnormal withdrawals, and submitted an official report at 11:45 a.m., with additional notifications sent to the Korea Internet and Security Agency, police, and the Financial Services Commission later in the day.

Because Naver Financial and Dunamu, Upbit’s operator, held a joint press conference the same day to formalize their merger, and the reports were filed only after the press conference ended at 10:50 a.m., questions have emerged over whether Upbit delayed the disclosure due to the merger.