South Korean intelligence agencies are now sharing information with crypto trading platforms on attempts to hack their cybersecurity. The help for the country’s digital asset exchanges comes amid growing threats, local media reported.
Intelligence Service Provides Cybersecurity Assistance for Major South Korean Crypto Exchanges
South Korea’s National Intelligence Service (NIS) has started to alert the country’s major cryptocurrency exchanges about hacking attempts as threats of this nature are on the rise, the Yonhap news agency reported, quoting an announcement on Thursday.
Upbit (Bithumb), Korbit, and Coinone are the top four Korean currency trading platforms. They have had real-time access granted to all information regarding online security threats. This data contains the Internet Protocol addresses (IPs) associated with hacking, according to an intelligence agency.
NIS stated that cyberthreats have been identified both in the public and private sectors, with direct links to the Republic of Korea’s security. This was revealed by the NIS service, which stressed the need to tackle such threats.
We plan to share and provide more specialist information in the future. This includes the most recent malicious codes and hacking techniques related to virtual assets.
Hackers allegedly from North Korea have made cryptocurrency and financial exchanges a target. According to a United Nations report produced by independent sanctions monitors and submitted to the Security Council in early February, cyberattacks on the coin trading platforms remain a major source of funds for the Democratic People’s Republic of Korea (DPRK).
“DPRK cyberactors stole more than $50 million between 2020 and mid-2021 from at least three cryptocurrency exchanges in North America, Europe and Asia,” the authors said. Chainalysis, a blockchain-forensics company that estimates Pyongyang has stolen nearly $400 million worth of digital assets by attacking several crypto companies in the past year, was also quoted.
Do you think the support provided by South Korea’s intelligence agency will help crypto exchanges prevent cyberattacks? Please comment below with your views.
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