Only 7 Korea cryptocurrency exchanges are found relatively immune to security breach attempts like hacking. The remaining 14 turned out to be susceptible to hacking attacks.
The Korean government has released a scrutiny report on security status on Korean cryptocurrency exchanges, which were screened by experts to evaluate the degree to which their security is protected.
Jointly conducted by the Ministry of Science and ICT and the Korea Internet and Security Agency, the security evaluation report found that 7 exchanges have satisfied all 85 requirement criteria on the checklists. The 85 checklist items include system security such as administrative security, network separation, account management, and virtual currency wallets.
The 7 exchanges that were given green light are Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco, and Huobi Korea.
Yet, the 14 exchanges, which were subject to the evaluation, were found to be still very vulnerable to hacking attacks, failing to meet the requirements on 51 checklists. They were found to have a low level of security in terms of network separation and access control as well as management of security system.
The evaluation dated back to January 2018, when the ministry and the agency jointly started to conduct the scrutiny on the 21 exchanges through March.
Back then, all the 21 exchanges were ordered by the ministry to improve their security status on the 85 checklists.
The ministry also carried out an evaluation on another 17 exchanges between September and December 2018.