South Korea’s Crypto Security Crisis Deepens
South Korea’s cryptocurrency exchanges have been under relentless assault.
Financial reports show over 1.15 million hacking attempts targeted just four major exchanges (Upbit, Bithumb, Korbit, Gopax) through November 2024, more than double the previous year’s count and a sharp escalation from 2022. This surge highlights how South Korea’s vibrant crypto market has become a prime target for cybercriminals. In fact, global crypto heists hit about $3.4 billion in 2025, with North Korea’s Lazarus Group blamed for a lion’s share of those thefts.
Seoul officials have openly acknowledged the threat. When Upbit, South Korea’s largest exchange, suffered a hack resulting in roughly ₩44.5 billion (~$36M) in losses in November 2025,…
