o3n [ozone] blockchain layer

Blockchain source

Menu
  • Cybersecurity services
Menu

South Korea Government Approves Seven out of 21 Cryptocurrency Exchanges’ Security Policy

Posted on January 11, 2019 by nbelov

Of a total of 21 exchanges, the majority still had notable problems meeting South Korean authorities’ 85 security criteria.

Some of South Korea’s biggest cryptocurrency exchanges have passed a government security audit, but the majority could be exposed to attacks, local tech news outlet ZDNet reported on Jan 10.

Bithumb, Coinone and Korbit, in addition to four other major exchanges, satisfied investigators during the audit, which took place between September and December 2018.

Of the tranche of 21 platforms involved, however, the remaining 14 failed to meet the criteria for suitable security procedures.

South Korea previously had one of the world’s most active cryptocurrency trading economies before regulatory upheaval saw consumer habits dramatically change in late 2017.

In the interim, attackers have continually targeted South Korean operators in order to steal funds from users, with even officially secure ones such as Bithumb reporting breaches last year worth tens of millions of dollars.

The latest audit by lawmakers looked at 85 different aspects of security, and found that of those who did not pass, an average of 51 aspects required attention, ZDNet reports.

Last month, a court acquitted Bithumb in a case brought by one investor who claimed he lost funds worth $355,000 in a hack because of the platform.

While no mention of shutdowns as a result of poor performance has surfaced, Seoul has been more draconian on certain other aspects of the cryptocurrency industry, with initial coin offerings (ICO) still facing a full ban under its jurisdiction.

Source: Cointelegraph https://cointelegraph.com/

Recent Posts

  • Crystal Blockchain is expanding its sales team for H2 2022 – Yahoo Finance May 24, 2022
  • Blockchain in Healthcare Market Growth Prospect and Future Scenario by Key Players- IBM Corporation, Microsoft Corporation, Guardtime AS – The Daily Vale – The Daily Vale May 24, 2022
  • Project SEED to Shape the Future of Blockchain Gaming | Bitcoinist.com – Bitcoinist May 24, 2022
  • Can blockchain offer the solution to crowdfunding? – CryptoSlate May 24, 2022
  • Massive Growth of Blockchain in Genomic Data Management Market by 2029 | Amazon.com Inc, PayPal, Staples Inc – The Daily Vale – The Daily Vale May 24, 2022
  • Law Decoded: The long waves in the aftermath of UST’s crash, May 16-23 May 24, 2022
  • Coinbase offers 'thousands of tokens' in expanded swap service May 24, 2022
  • FTX reportedly shopping for brokerages in preparation for stock trading May 24, 2022
  • HIVE Blockchain Announces 5 to 1 Share Consolidation Effective at Market Open May 24, 2022 – Yahoo Finance May 24, 2022
  • Financial experts seek review of blockchain, fintech regulations – Punch Newspapers May 24, 2022
  • Accubits named among global blockchain solutions providers – BusinessLine May 24, 2022
  • IoT and Blockchain Market 2022 to Register Incredible Developments – IBM, Intel, The Linux Foundation, Microsoft, Ethereum Foundation, etc – The Daily Vale – The Daily Vale May 24, 2022
  • Blockchain Distributed Ledger Market Upcoming Trends, Segmented by Type, Application, End-User and Region -Chain, Microsoft Corporation, Eris Industries, IBM, Blockchain Tech, Accenture, Earthport, Deloitte, Intel, Digital Asset Holdings – The Daily Vale – The Daily Vale May 24, 2022
  • eBay drops first NFT collection to non-crypto mainstream buyers May 24, 2022
  • South Korean police request exchanges freeze LFG related funds May 24, 2022
  • Legion Network Launches Blockchain Super App – GlobeNewswire May 24, 2022
  • Core Ethereum developer details changes to expect after the Merge May 24, 2022
  • Blockchain In Automotive Market would Register a Healthy Growth of USD 49.93 billion by 2027 :IBM (US), Microsoft (US), Accenture (Ireland), carVertical (Estonia), Helbiz (US), Tech Mahindra (India), SHIFTMobility (US), BigchainDB (Germany) – The Daily V – The Daily Vale May 24, 2022
  • Blockchain Platforms Software Market Size 2022-2029| Key Players – IBM, Intel, Microsoft, Ethereum, Ripple – The Daily Vale – The Daily Vale May 24, 2022
  • Legal Issues Arise Where the U.S. Government Meets the Metaverse – The National Law Review May 23, 2022
  • LongHash Ventures Partners With Protocol Labs to Launch the Third LongHashX Accelerator Filecoin Cohort May 23, 2022
  • The blockchain tide is out – The Financial Express May 23, 2022
  • EDC Blockchain (EDC) What Does the Chart Say Monday? – InvestorsObserver May 23, 2022
  • PraSaga Announces Appointment of Senior Economic Advisor, Monetary Policy and Sponsorship of Chamber of Digital Commerce Blockchain Summit 2022 – PR Newswire May 23, 2022
  • Fed report finds most Americans who own crypto tend to be high income hodlers May 23, 2022
  • GBA & eZ-XPO host All-in-1 Hybrid Blockchain Expo Conference for Virtual Pitch, NFT, and Job Fair – EIN News May 23, 2022
  • WEF 2022: Bankers at WEF see the need for caution and speed on central bank digital currencies May 23, 2022
  • fUSD stablecoin launch and rumors of Cronje’s return send Fantom (FTM) price higher May 23, 2022
  • WEF 2022: Most DeFi protocols aren’t really decentralized, says European Parliament VP May 23, 2022
  • PTO’s Handling of Patent Eligibility for Blockchain Applications – JD Supra May 23, 2022

Ad

Ad

©2022 o3n [ozone] blockchain layer | WordPress Theme by Superbthemes.com