For 3 years in South Korea 7 crypto-exchanges and 158 wallets were hacked

[Paha87]

The national police Agency of South Korea has prepared a report on all cases of hacking of crypto-exchanges and wallets over the past three years. According to local media, there were seven cases of hacking crypto-exchanges and 158 cases of hacking wallets, 91 of which occurred this year. However, a total of six arrests were made in these cases.

Police report
According to local media, the South Korean national police Agency has prepared a report on known incidents with hackers that have occurred in the country since 2016.

The report, entitled "Status and measures to hack damage to virtual currency exchanges over the past three years", was submitted to the South Korean government and presented on Wednesday by legislator Cho Won-Jing. The data shows:" since 2016, there have been seven cases of hacking crypto-exchanges, "and the amount" illegally withdrawn due to hacking amounted to 112 billion won (~ 99 million dollars), " said Dtoday.

Korean edition of Boan News notes:

The amount of money stolen as a result of hacking cryptocurrency exchanges is steadily growing every year. The amount of illegal seizures, which amounted to only 300 million KRW ($265'282) in 2016, increased to 40.5 billion KRW ($35.8 million) in 2017, and the two hacking incidents that occurred in 2018 caused damage of 71.3 billion KRW ($63 million).

Korean Digital Times added:

From 2015 to 2018, 158 cases of hacking personal wallets for virtual currency were registered, in particular 91 cases were opened this year. However, only six arrests were made. According to the report, last year there were 62 cases of hacking wallets.

For crypto-exchanges, one incident was registered in 2016. Ripple4y crypto exchange was hacked on July 26, 2016. Last year, there were four hack exchanges: Yapizon April 22, Bithumb June 28, Coinis 23 September Youbit 19 Dec. This year there were two cases of hacking: Coinrail on June 10 and Bithumb on June 19.

Government inspections are ineffective
The Korean government is actively conducting security inspections of crypto-exchanges operating in the country. Ten of them were checked between September and December of last year; 21 were checked between January and March of this year. As previously reported, serious security problems have been found in many cases.

Commenting on the report and inspections by the government, legislator Min Kyung-wook said:

Exchanges for cryptocurrencies are always subject to cyber threat due to the very nature of their activities. A hacker attack has occurred even in those companies where the government carried out a security check.

In particular, three crypto-exchanges were hacked even after they were verified by the government. Youbit was tested last October, but was hacked on December 27. Similarly, Coinrail was vetted this February, but was hacked on June 10. Bithumb, one of the largest crypto-exchanges in the country, was the latest victim of hacking. The exchange was double-checked by regulators before the break-in, but was hacked on June 19.

Link to the source of information (Russian) - https://altstake.io/news/za-3-godav-yughnoy-koreebyli-vzlomany7-kriptobirgh-i-158-koshelykov

[agusiska]

I think this problem has entered a very serious stage, in the past 3 years there have been 7 hijacked case to exchanger, and we all know, some of them are major exchangers, these problems cannot be allowed to drag on before they happen again and harm many user and further worsens the crypto world conditions.

[Kyoshiro]

That's a bad news for Korean users. The security, I think is not that good enough since hackers are wise. Well, I hope they can deal with problem immediately. At least, I guess, not more than 10%  of them were greatly affected.