Ethereum

<div class="cryptonews">
 <p class="is-style-lead">South Korea’s largest <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>, Upbit, suffered 159,061 <a rel="noopener noreferrer nofollow" title="attacks" href="https://thebittimes.com/tag/attacks.html">attacks</a> during the first half of 2023.</p>
 <p>According to the local media Yonhap, it is nearly 2.17 times more than in 2022.</p>
 <p>To fight back against the increasing trends of hacking attacks, the company increased the portion of funds it held in cold wallets by 70%. It also grew the security levels for its hot wallet funds.</p>
 <p>Upbit is currently one of the leading cryptocurrency <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>s in South Korea. The company has a trading volume of nearly $1.2 billion.</p>
 <p>Due to Binance regulatory issues, the company increased its market share by 5.5%. Upbit is gaining traction and attracting users in the competitive cryptocurrency exchange landscape.</p>
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 <p>In 2019, the <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> experienced a significant hack, losing $51 million worth of Ethereum (ETH). Despite this setback, Upbit resumed its normal operations after a two-month hiatus, demonstrating its resilience and commitment to providing a secure platform for users.</p>
 <p>In addition to its activities in the crypto space, Upbit has expanded its brand presence through sports sponsorship. The <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> partnered with Napoli, a football club in Italy’s Serie A and Coppa Italia competitions. This move showcases Upbit’s willingness to explore new avenues for brand promotion and reach a wider audience.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/upbit-exchange-hacking-attacks-doubled-in-2023-tbt65608.html">https://thebittimes.com/upbit-exchange-hacking-attacks-doubled-in-2023-tbt65608.html</a></p>

Upbit exchange hacking attacks doubled in 2023

TheBitTimes

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