It became known which cryptocurrency exchange was attacked by hackers 159,000 times

According to Yonhap, one of the largest exchanges in South Korea, Upbit, was attacked more than 159,000 times. This figure has more than doubled in a year.

In the first quarter of last year, Upbit recorded 73,249 hacking attempts, which is 2.17 times less than now. However, since 2020, the number of such cases has increased by 1800% - then it was approximately 8356.

In November 2019, the crypto exchange suffered a large-scale hack, as a result of which hackers stole a total of 340,000 ETH. The total losses from the attack amounted to 58 billion won, or about $ 43 million. According to representatives of the Dunamu operating company, which manages Upbit, the crypto exchange has increased the share of funds stored in cold wallets to 70% to counteract hackers. In addition, Upbit has also strengthened security measures for hot wallets. They are more likely to be hacked because they are constantly connected to the Internet, and it is easier for hackers to get to them.

«After the hacking incident in 2019, we took measures to prevent new hacks, for example, we made our hot wallets decentralized. Since then, no hacking hasoccurred,» Dunamu said.

According to Beosin, a leading cybersecurity company, the total losses from hacks, phishing attacks, and ransomware in Web3 reached $ 889.26 million in the third quarter of 2023. This period saw 9 incidents involving the compromise of private keys. As a result of leaks, losses reached $ 223 million. At the same time, the number of fraudsters in the crypto market has decreased. According to Immunefi, compared to 2022, this year the number of fraudulent schemes has decreased by almost 24%.