ONLY SEVEN KOREAN CRYPTO EXCHANGES PASSED CYBERSECURITY SYSTEM STATE AUDIT

The South Korean government has checked 38 cryptocurrency exchanges of the country. As a result of the audit, it was found that only 7 trading platforms meet the security requirements, 17 exchanges have not been tested. The Korean Internet and Security Agency (KISA) was a partner of the Ministry in the inspections.

According to published reports, only seven of the 85 cryptocurrency exchanges meet all the requirements of the inspectors. The security level of 14 inspected exchanges has not changed since the last check, and 17 sites have not been checked at all.

The inspection lasted from September to December last year. Security systems of 21 exchanges were inspected in January-March, and 17 sites were studied for the first time.

The following exchanges have fully passed the security check: Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco, Huobi Korea.

The list of requirements included “administrative security, separation of trading system and account management … and management of virtual currency wallets,” local media noted.

14 exchanges are still “at risk of hacker attacks”, and the security level of 17 sites is defined as “weak”.

Korean officials stressed that they would continue to check the cryptocurrency exchanges on the subject of the vulnerability of security systems for the protection of investors in case of hacker break-ins.