11 Crypto Exchanges Complete Security Measures in South Korea

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21 Aug 2018

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11 of the 21 crypto exchanges have completed security measures, according to a mid-term review by the country’s government. The review was performed over June and July by the Korea Internet and Security Agency (KISA) and the Korean Ministry of Science and Technology.

 A previous crypto exchange inspection was performed between January - March. There were 85 issues identified during that check. The more recent inspection focused on 17 items which needed immediate implementation, 6 short-term measures and 11 others concerned crypto wallet management. “Intermediate checks were carried out in such a way as to confirm whether improvements had been made, focusing on the 17 security items recommended for quick action,” the government stated.

 From 11 exchanges which completed the short-term measures, 8 improved their wallet management results. According to local media, these include Bithumb, Korbit, Coinlink and Huobi Korea.

 The review also concluded that  many security vulnerabilities still remain; therefore, further inspections are planned. The final check will be performed in September, when any new crypto exchanges will also be reviewed.