Upbit, the largest cryptocurrency exchange in South Korea, has been targeted in more than 159,000 hacking attempts during the first half of 2023, news reports revealed today.
According to data provided by Donamo, the company that owns and operates Upbit, to Rep. Park Seung-jung of the National Assembly’s Science, Technology, Information, Broadcasting and Communications Committee, the platform saw approximately 159,061 hacking attempts in the first half of 2019. The year. This represents more than double the number of hacking attempts in the first half of 2022, which recorded about 73,249 hacking cases.
The report indicates a significant increase in hacking attempts on the Upbit platform, with an increase of 117% compared to the first half of 2022 and an astonishing increase of 1,800% compared to the same period in 2020. The development of hacking attempts on Upbit has been remarkable, and recently, it has escalated from 8,356 cases in the first half of 2020. Second from 2020 to 34,687 cases in the first half of 2021, followed by 63,912 cases in the second half of 2021, and 73,249 cases in the first half of 2022. Attempts continued to rise, reaching a peak of 87,242 cases.
Dunamu, the company that runs the platform, confirmed that in order to combat hacking attempts, Upbit has increased the percentage of funds held in cold wallets to 70%. In addition, the platform has strengthened its security measures to protect funds deposited in hot wallets.