Upbit reported nearly 160,000 hacking attempts in six months

In the first six months of 2023, the South Korean Bitcoin exchange Upbit was subject to 159,061 hacker attacks. Yonhap writes about this.

The platform’s owner, Dunamu, reported the figures to Congressman Park Sung-jung of the National Assembly’s Science, Technology, Information, Broadcasting and Communications Committee.

The indicator increased year-on-year by 2.17 times.

A Dunamu representative noted that after the hack in 2019, the exchange took a number of measures to improve security. Damage from the incident amounted to 58 billion won ($42.84 million at the time of writing).

Upbit stores up to 70% of funds in cold wallets and uses hot addresses in several structures, improving their management.

After 2019, the platform did not record a single successful attempt to breach cybersecurity.

Park Sung Jong noted an increase in the number of attacks on crypto exchanges around the world. He emphasized the need for assistance from the authorities in strengthening measures to counter the activity of hackers.

“The Department of Science and Technology should conduct large-scale testing and study of information security conditions in preparation for cyber attacks on virtual asset exchanges, where hacking attempts are common,” the congressman said.

Number of attempted cyberattacks against Upbit by period
Second half of 2020	8356
First half of 2021	34,687
Second half of 2021	63,912
First half of 2022	73 249
Second half of 2022	87 242
First half of 2023	159 061

Let us remind you that September became a record month in 2023 for damage to the crypto industry from hacking and fraud ($329.8 million), according to CertiK. One of the largest incidents was a successful attack on the CoinEx exchange ($53 million).

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