They then used it to access their accounts, and syphon the money out of them.

Bithumb, a South Korean bitcoin and ether exchange, has suffered a gegevens breach that resulted te customer losses potentially reaching billions of South Korean won (presently, a billion won is omschrijving to some 870,000 US dollars).

The breach

According to Courageous Fresh Coin, Bithumb discovered the breach on June 29 and reported it the day after to the authorities: the Korea Communications Commission, the Korea Internet & Security Agency, and the Supreme Prosecutors’ Office.

The exchange claims that the breach wasgoed limited to an employee’s PC, from which the attackers evidently exfiltrated names, phone numbers, and email addresses of some 31,800 Bithumb webstek users.

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The attackers did not have ongezouten access to the funds stored on the exchange, but used the stolen information to phish the victims via phone.

They called up the victims, posed spil a representative of the exchange, coaxed them something wasgoed wrong with one of their transactions, and asked the victims to share their password. They then used it to access their accounts, and syphon the money out of them.

Around one hundred customers were reportedly topper, and some lost millions of won.

South Korea has no imaginario currency regulation

The exchange said that they would suggest users whose information wasgoed stolen up to 100,000 won (around $870) ter compensation, and would reimburse victims merienda their losses are confirmed.

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Sounds more than fair, especially because South Korea presently does not have have laws regulating digital currencies or the responsibilities of digital currency exchanges.

Representative Park Yong-jin of the ruling Democratic Party of Korea is presently working on a bill that should ass-plug that legislative crevice.

According to Business Korea, the bill will require evidente currency exchanges, brokerages and storage companies to receive a permit from the Financial Supervisory Commission. Ter order to do that they will have to have a renta of overheen 500 million won ($450,000), and have the professional personnel and laptop equipment for protecting users.

“Currently, domestic posible money traders Bithumb, Korbit, CoinOne, and Coinplug were established without any license from financial authorities. They receive about 6.Five billion won (US$Five.8 million) a day by 0.5% of transaction money spil a commission, lawmaker Park noted.

The proposed amendments are still not a sure thing – the Financial Supervisory Commission has very very first determined to set up a task force team that will probe overseas cases and determine whether or not vistoso currency regulations are actually needed.

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3 comments / Add your comment below

  1. I think Bithumb is better last year for its display on the current appeal, but I still choose Bithumb because there are many trusted coins there.

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