Total of 7 Crypto Exchange and 158 Wallet Hacks in Korea, Police Find

The report entitled “Status and Measures of Hacking Damage of Virtual Currency Exchanges in the Last Three Years” was submitted to the South Korean government and unveiled by lawmaker Cho Won-jin on Wednesday. The data shows “there were seven [crypto exchange] hacking cases since 2016” and the amount “illegally withdrawn through hacking was 112 billion won [~$99 million],” Dtoday reported.

“The amount of money stolen by the hacking of cryptocurrency exchanges has been steadily increasing every year,” Boan News noted. “The amount of illegal withdrawals, which was only KRW 300 million [~$265,282] in 2016, increased to KRW 40.5 billion [~$35.8 million] in 2017, and two hacking cases occurred in 2018, amounting to KRW 71.3 billion [~$63 million] in theft.”