The Korean authorities joined the investigation of Bithumb hacking

June 21

​​​​​​​The representatives of the department will take the situation under their control.

The South Korean Ministry of Science and Technology (MIC) intends to investigate the hacker attack on the Bithumb exchange during which was stolen 35 billion won (about $31.5 million) in cryptocurrency.

As the Rönhap news agency reports, the representatives of the agency have already attracted to work the Korean Internet Security Agency (KISA). Now the authorities are analyzing the reasons for what happened together with the police.

The Ministry noted that during the security audit of South Korean cryptoexchanges in the period from January to March this year it was revealed much vulnerability in their protocols.

It was possible to identify the absence of monitoring systems for suspicious activity, unsatisfactory level of password protection and insufficient isolation of important data at many platforms. MIC did not detect any mechanisms to prevent hacker attacks at 12 cryptoexchanges.

The representatives of the ministry indicate that the recommendations issued on the results of the audit have not been implemented and so the agency intends to take the situation under its personal control. This decision affects both the hacked exchange and the other South Korean cryptoexchangers.

In the evening of June 19 it became known that Bithumb was subjected to a hacker attack. As a result of hacking the cryptoexchange suffered the losses of 35 billion won ($31.5 million). Operations on depositing and withdrawing funds were suspended and the representatives of the platform promised to compensate users for all the losses.

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