Nearly 160,000 hacking attempts were made against Upbit, the largest exchange by trading volume in South Korea, in the first half of this year, according to parent company Dunamu’s regulatory filing, which was picked up by the local news source YNA.On the ninth, Dunamu delivered its findings to Rep. Park Seong-jung (People Power Party) of the National Assembly’s Science, Technology, Information, Broadcasting and Communications Committee.
That equals around 879 on a daily basis.Although Dunamu did not provide specifics in the lawsuit, hackers may have used a variety of widely used techniques for the attacks, such as email phishing or DDoS.
DDoS, or distributed denial-of-service, is a type of cybercrime where an attacker overwhelms a server with traffic to keep people from accessing linked websites and online services.According to Dunamu, there were 2.17 times as many “infringement attempts” in the first half of 2016—a period that witnessed just over 73,200 cases—as there were in the second half.In spite of being relatively unknown outside of its native market, UPbit transacts billions of dollars on trading pairs in Korean won and tokens and is renowned for inspiring ferocious rallies on listed tokens.
As a U.S. court determined that the selling of XRP on exchanges did not constitute investment contracts earlier this year, the exchange processed about $2.5 billion in XRP trading volumes over a 24-hour period.The tokens were priced up to 10% more than the current international XRP marketplaces.