14 South Korean bitcoin exchanges are recognized as vulnerable to hacker attacks

The South Korean authorities summed up the results of the inspection, 21 cryptocurrency exchanges for compliance with safety requirements. According to her results, only seven sites — Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco and Huobi Korea — has received the endorsement of regulators, writes CoinDesk.

The test, held from September to December of 2018, included the activities of bitcoin exchanges for 85 criteria. In particular, regulators interested in administrative, network, system and operating security as well as backups of databases and management features of the wallets.

As reported in the Ministry of economy and Finance, 14 trade sites were identified as «vulnerable to hacker attacks due to improper network security management». In this case the regulator did not disclose the names of these platforms.

According to the October study by ICO Rating, most cryptocurrency exchanges with daily trading volume of more than $1 million have problems with security.

We will remind, in June as a result of hacking South Korean exchanges Bithumb and Coinrail hackers stole over $30 million and $37 million respectively.

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