Solely a 3rd of cryptocurrency exchanges inspected received a full go in a latest authorities safety audit.
The Ministry of Science and ICT, the Korea Web & Safety Company and the Ministry of Financial system and Finance inspected a complete of 21 crypto exchanges from September to December 2018, analyzing 85 completely different safety elements.
Notably, solely 7 of them – Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco, and Huobi Korea – cleared all of the exams, CoinDesk Korea reported Thursday.
The remaining 14 exchanges are “susceptible to hacking assaults always due to poor safety,” the Ministry of Financial system and Finance mentioned, although it didn’t title the platforms. The businesses put down the safety failures to “inadequate institution and administration of safety system comparable to fundamental PC and community safety.”
The exchanges have been inspected in a overview that appeared completely different elements of administrative, community, system and operational safety, in addition to database backup and pockets administration.
Again in February, the nation’s officers said that they believed North Korean hackers have been behind the assaults. Certainly, North Korea’s notorious hacking group, Lazarus, has been reported to be behind the theft of $571 million in cryptocurrencies since January 2017, in response to a report from cybersecurity vendor Group-IB.
Within the wake of the safety breaches, South Korea’s Monetary Providers Fee, in July of final 12 months called on politicians to go a invoice regulating home cryptocurrency exchanges with urgency in an effort to counter lax safety within the trade.
Test fail picture through Shutterstock