Crypto Exchange Upbit Targeted By Hackers
According to Upbit’s running company, hackers have targeted the South Korean cryptocurrency exchange more than 159,000 times in the first half of 2023.
According to a report published on October 9 by the South Korean Yonhap News Agency, the numbers were sent to South Korean Representative Park Seong-jung of the People Power Party by Dunamu, the company that owns and runs Upbit.
According to the data, there has been a staggering 1,800% increase since the first half of 2020 and a growth of 117% since the first half of 2022.
Dunamu claimed that Upbit boosted the percentage of assets it keeps in cold wallets to 70% in order to fend off hacking attempts and bolster security. Additionally, Upbit enhanced its security protocols for money stored in hot wallets.
(With inputs from Shikha Singh)
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