Two-thirds of the Korean crypto exchanges failed an audit of the authorities
24.01.19
Only one third of the South Korean cryptocurrency exchanges were able to pass a security audit conducted by the authorities of the country. These are the results of the audit of the Ministry of Science and ICT, the Korea Internet & Security Agency and the Ministry of Economy and Finance. These departments checked 21 cryptocurrency exchanges from September to December 2018 in accordance with 85 criteria.

Only seven trading platforms passed the test of reliability and security. These include Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco and Huobi Korea. These sites received a positive conclusion of the regulators.

The remaining 14 trading platforms, we quote: "vulnerable to hacker attacks at any time due to weak security measures." So stated the Ministry of Economics and Finance, without specifying the names of the exchanges. Other verification criteria: administrative, network, system and operational security, as well as the presence of database recovery points and wallets management.