News - 159,000 hacker attacks in six months

By Mike Hesp

159,000 hacker attacks in six months

Scams, crime and fraud
Exchanges

The crypto exchange Upbit can hardly rest. There were some 159,000 attacks in the first half of the year alone. Security measures have been increased since a massive hacking attack in 2019.

South Korean crypto exchange Upbit was hit by a series of attacks in the first half of the year. As reported by the Yonhap newspaper, there were about 159,000 hacking attacks on the exchange.

Year-on-year, the number is up 117 percent. Compared to the first half of 2022 by 1,800 percent.

Against this background, South Korean MP Seong-jung called on the government to take action: "The Ministry of Science and Technology should conduct large-scale security audits and study information security conditions to prepare for cyber attacks against crypto exchanges, where hacking attempts are common."

As a security measure, 70 percent of the exchange's funds are now stored on cold wallets, according to operator Dunamu.

In 2019, Upbit was hit by a massive attack. $50 million was stolen at the time.

Upbit has a 24-hour trading volume of $560 million, according to Coingecko.

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