Security· ★★· bearish·

Korean exchange Frabang halts service after hack causes about $70,000 in losses

  • —The breach occurred on Oct. 24 and was found during a system-wide review
  • —Confirmed losses are about 100 million won, with the exact figure still being assessed
  • —The exchange's website and privacy policy page return a 503 error
  • —Frabang will compensate affected users in full from its own assets
Why it matters: A string of breaches at Bithumb, Gopax and Frabang is raising security concerns across Korean exchanges and could invite tighter regulatory scrutiny.
Source: Blockmedia
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