Only some exchanges passed security inspection in South Korea

Posted 11 January, 2019

South Korean authorities have checked security compliance at 21 crypto exchanges with only 7 of them successfully passed the inspection. 

According to the news reports, the platforms were inspected by the Ministry of Science and ICT, the Korea Internet & Security Agency and the Ministry of Economy and Finance covering the period of September-December 2018. Specifically, the exchange operations were audited in line with 85 aspects in the security area. These aspects included management, administrative, system and operational security, wallet management. Moreover, the inspectors were interested whether the activities on the platforms are powered by data backups.

As a result, only a few exchanges managed to correspond to all requirements. These platforms are the following:  Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco and Huobi Korea. 

At the same time, the authorities reportedly stated that the remaining exchanges have insufficient network security and thus are vulnerable to hacking. The names of the platforms have not been unveiled.

It is worth mentioning that there are some surveys saying that the majority of crypto trading platforms with daily trading over $1 million have the security problems.

The country faced heavy losses in the cryptocurrency market over the past 2018 year. In particular, Coinrail and Bithumb lost more than $40 million and $30 million respectively after the hacking.  

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14 January, 2019 11:28

← US dollar losing grounds depressed by inflation report

The inflation report in the USA has put pressure on the greenback. The released data showed that the December CPI decreased by 0.1%  m-o-m, but rose 1.9% y-o-y. This means that the last month of the past year was marked by the first monthly decline in  CPI over 9 months. At the same time, the annual inflation figures were 2% below the results of August 2017. The US dollar is mainly affected by the intentions of Beijing to boost its currency ahead of the anticipated trade agreement, as the market analyst noted. The US dollar index has dropped by 0.16% on Monday.

US dollar losing grounds depressed by inflation report

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11 January, 2019 15:40

DX.Exchange: Token authentication bug fixed →

DX.Exchange platform that offers security-token services has reportedly fixed the token authentication bug that was detected lately. A trader stated that the data sent from the browser to the platform included token authentication and account details. As a result, trader managed to get authentication tokens of other users as well as password restoration links. DX.Exchange is located in Estonia and offers services for trading tokenized stocks for cryptos and fiats based on NASDAQ pattern. The trading was launched on January 7.

DX.Exchange: Token authentication bug fixed
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