{"id":170705,"date":"2023-10-09T10:48:35","date_gmt":"2023-10-09T05:18:35","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=170705"},"modified":"2023-10-09T10:48:35","modified_gmt":"2023-10-09T05:18:35","slug":"crypto-exchange-upbit-was-targeted-by-hackers-159k-times-in-h1-report-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-exchange-upbit-was-targeted-by-hackers-159k-times-in-h1-report-crypto-news\/","title":{"rendered":"Crypto exchange Upbit was targeted by hackers 159K times in H1: Report – Crypto News"},"content":{"rendered":"
\n

South Korean cryptocurrency exchange Upbit has been targeted by hackers on more than 159,000 occasions in the first half of 2023, according to its operating firm. <\/p>\n

The figures were reported by Dunamu \u2014 the firm operating Upbit<\/a> \u2014 to South Korean Representative Park Seong-jung of the People Power Party,\u00a0according<\/a> to an Oct. 9 report by South Korea-based Yonhap News Agency.<\/p>\n

The figure marks a 117% increase from the first half of 2022 and a whopping 1800% increase from the first half of 2020.<\/p>\n

Upbit is one of South Korea\u2019s largest cryptocurrency exchanges with 24 hour trading volume of around $1.2 billion, according to CoinGecko. Other major exchanges include Bithumb, Coinone and Gopax. <\/p>\n

To counter the rise in security breach attempts, Dunamu said Upbit increased the proportion of funds it holds in cold wallets to 70% to strengthen security. Upbit also upped its security measures for funds held in hot wallets.<\/p>\n

Hot wallets tend to be hacked more often than cold wallets because the private keys are stored online as opposed to a cold wallet where they\u2019re stored on external hard drives and USBs.<\/p>\n

Upbit suffered a $ 50 million exploit<\/a> in 2019. But since then, Upbit hasn\u2019t suffered a single security breach, a Dunamu spokesperson told Yonhap.<\/p>\n

“After the hacking incident in 2019, we took various measures to prevent recurrence, such as distributing hot wallets and operating them, and to date, not a single cyber breach has occurred.”<\/p><\/blockquote>\n

However, Upbit had to halt Aptos token services<\/a> in late September after the platform failed to recognize a fake token \u201cClaimAPTGift.com\u201d which made its way to 400,000 Aptos wallets.<\/p>\n

\n

1\/ Crypto Deposits Security Thread <\/p>\n

Today\u2019s Upbit incident highlights a crucial aspect that is often overlooked – the security of crypto deposits. While a lot is discussed around private key management & withdrawals security, deposits have a similar attack surface. \u2935\ufe0f pic.twitter.com\/5NEAyJB63N<\/a><\/p>\n

\u2014 Nass Eddequiouaq (@nassyweazy) September 25, 2023<\/a><\/p><\/blockquote>\n

Seong-jung acknowledged that cryptocurrency hacks<\/a> have increased across the board but called on the South Korean government to take more action:<\/p>\n

\u201cThe Ministry of Science and Technology must conduct large-scale whitewashing mock tests and investigate information security conditions in preparation for cyber attacks against virtual asset exchanges where hacking attempts are frequent.\u201d<\/p><\/blockquote>\n

\u201cThe role of the Ministry of Science and ICT in managing and supervising them is ambiguous,\u201d Seong-jung added.<\/p>\n

Cointelegraph reached out to Upbit for comment but did not receive an immediate response.<\/p>\n

Related: <\/em><\/strong>CoinEx exchange drained of $27M worth of crypto in suspected hack <\/em><\/strong><\/a><\/p>\n

Meanwhile, crypto exchanges have been targeted in a string of attacks in September. <\/p>\n

Hong Kong-b exchange CoinEx suffered a $70 million hack<\/a> in September after one of the firm\u2019s private keys was compromised. The firm stated that affected users will be compensated for any lost funds.<\/p>\n

In a separate attack, Huobi Global\u2019s HTX exchange\u00a0lost $7.9 million in a Sept. 24 exploit.<\/a><\/p>\n

Magazine: <\/em><\/strong>$3.4B of Bitcoin in a popcorn tin \u2014 The Silk Road hacker\u2019s story<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

South Korean cryptocurrency exchange Upbit has been targeted by hackers on more than 159,000 occasions in the first half of 2023, according to its operating firm. The figures were reported by Dunamu \u2014 the firm operating Upbit \u2014 to South Korean Representative Park Seong-jung of the People Power Party,\u00a0according to an Oct. 9 report by […]<\/p>\n","protected":false},"author":2,"featured_media":170706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-170705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=170705"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170705\/revisions"}],"predecessor-version":[{"id":170708,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170705\/revisions\/170708"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/170706"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=170705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=170705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=170705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}