Upbit confronts a staggering 159,000 hacking attempts in the first half of 2023, showcasing a concerning rise in cyber threats.
Upbit confronts a staggering 159,061 hacking attempts in the first half of 2023, showcasing a concerning rise in cyber threats.According to data provided by Dunamu, the company that owns and operates Upbit, there was a 117% increase in hacking attempts from the first half of 2022 and an astounding 1,800% surge from the same period in 2020.
Upbit’s history with hacking incidents includes suffering approximately 58 billion won in damages from a hacking attack in 2019. However, Dunamu, the firm behind Upbit, emphasized that since that incident, they have implemented various measures to prevent recurrence.They also disclosed a strategy of maintaining over 70% of assets in cold wallets to enhance security.
Seong-jung called for comprehensive white mock hacking tests and assessments of information security conditions to prepare for cyberattacks targeting virtual asset exchanges and critical sectors like hospitals and subways.Despite the ongoing hacking attempts, South Korea’s virtual asset market continued to thrive in the first half of 2023, with a total market cap of $21.1 billion.
The market also witnessed the trading of 622 types of cryptocurrencies, with 169 new coins listed, although 115 coins experienced trading suspensions for various reasons.