South Korea’s largest cryptocurrency exchange Upbit suffered more than 159,000 hacker attacks in the first half of 2023, according to published data.

The growing popularity of Bitcoin (BTC) and cryptocurrencies has also led to fraudsters entering the space.

At this time, as we continue to hear new news about cryptocurrency scams and hacks, there is an interesting report coming from Dunamu, the company that owns Upbit.

Dunamu said Upbit, South Korea’s largest cryptocurrency exchange, suffered more than 159,000 hacker attacks in the first half of 2023, according to local news agency Yonhap.

Dunamu said this number is 2.17 times the number of hacking attempts in the first half of 2022 (73,249).

Giving the number of hacking attempts over the past few years, Dunamu said: “In the second half of 2020, the number of hacking attempts on Upbit was determined to be 8,356. However, this number increased to 34,687 in the first half of 2021 and 63,912 in the first half of 2021. It will reach 63,912 in the second half of 2021 and 63,912 in the second half of 2022. ” “It increased to 73,249 in the first half of 2022 and 73,249 in the second half of 2022. Finally, it increased to 159,061 in the first half of 2023. ” said.

Dunamu said in the report that Upbit increased the proportion of funds held in cold wallets to 70% to prevent hacker attacks and strengthen security.

Upbit said it has also strengthened security measures for funds in its hot wallets.

Referring to the $50 million hack that Upbit experienced in 2019, Dunamu noted that Upbit has not suffered a single security breach since then.

“After the hack in 2019, we took various measures to prevent it from happening again, such as distributing and operating hot wallets, and Upbit has not experienced any network vulnerabilities to date.”