Hacking makes an attempt on South Korea’s largest cryptocurrency change, Upbit, have surged to 159,061 within the first half of 2023, in line with information submitted to the Nationwide Meeting. The determine represents a 2.17-fold enhance in comparison with the identical interval final yr. Lawmaker Park Sung-jung criticizes the ambiguous position of the Ministry of Science and Know-how in regulating the change.
Surge in Hacking Makes an attempt
Information submitted by Dunamu, the operator of Upbit, to the Nationwide Meeting’s Science, Know-how, Data, Broadcasting, and Communications Committee revealed that hacking makes an attempt on the change reached 159,061 within the first half of 2023. This marks a 2.17-fold enhance from the 73,249 makes an attempt recorded within the first half of 2022.
Escalating Issues
The variety of hacking makes an attempt on Upbit has been on a gentle rise. The figures for the second half of 2020, first half of 2021, second half of 2021, first half of 2022, and second half of 2022 had been 8,356, 34,687, 63,912, 73,249, and 87,242, respectively. Upbit suffered a major lack of roughly 58 billion KRW (~$49 million) resulting from a hacking assault in 2019.
Safety Measures and Criticism
In response to the rising threats, Dunamu said that they handle over 70% of their property in chilly wallets and function scorching wallets in a distributed construction. Chilly wallets are offline cryptocurrency wallets, whereas scorching wallets are on-line however much less safe. Regardless of these measures, lawmaker Park Sung-jung criticized the unclear position of the Ministry of Science and Know-how in managing and supervising the change.
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