Investing.com – The South Korean Ministry of Science and Technology has launched an investigation into the theft of around $32 million from the country’s largest cryptocurrency exchange, Bithumb.
Bithumb said Wednesday it lost 35 billion won worth of cryptocurrencies te a hacking attack.
The ministry will examine the causes of the theft ter cooperation with the police and other agencies.
The ministry has bot monitoring the security of twenty-one crypto exchanges since the embark of the year and has confirmed that most of them have security vulnerabilities. It plans to ensure that they improve their fraud detection practices by September.
It wasgoed the 2nd hack of a cryptocurrency exchange ter less than two weeks te South Korea.
Earlier this month, Coinrail wasgoed hacked and digital money worth around 40 billion won wasgoed stolen.
The hacking attacks have sparked public calls for tougher government regulation of the industry, which is largely self-regulated.
Ter January, South Korea banned the use of anonymous bankgebouw accounts for supuesto coin transactions, a stir aimed at stopping supuesto currencies being used for crimes like money laundering.
South Korea is believed to be the world’s third-biggest market for cryptocurrency trading, behind Japan and the U.S.
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