Bitcoin Forum

Some of South Korea’s biggest cryptocurrency exchanges have passed a government security audit, but the majority could be exposed to attacks, local tech news outlet ZDNet reported on Jan 10.

Bithumb, Coinone and Korbit, in addition to four other major exchanges, satisfied investigators during the audit, which took place between September and December 2018.

Of the tranche of 21 platforms involved, however, the remaining 14 failed to meet the criteria for suitable security procedures.


Source:https://cointelegraph.com/news/south-korea-government-approves-seven-out-of-21-cryptocurrency-exchanges-security-policy

Whatever security they put in place doesn't make any difference, they are going to be hacked by their north korean buddies. They probably have government backed cyber hackers targeting them daily

I would like to China do the same. South Korea is not the biggest player on crypto market, but China is. If they will follow the example of the neighbor I guess the situation on the market will get greener.

I think it is not so important whether someone has approved the exchange or not. It matters is how reliable it is on your personal experience and the experience of other people. Different licenses are often thought out for any benefit to companies...

uh, according to the article 14 out of 21 failed to pass
so what is the point of China doing the same? :)"
just to prove that they are not safe? besides this audit won't close the exchanges that didn't comply with the security standards
and in any case, most of the defences can be breached , the situation won't get greener as you put it

If you don't know by now North and South Korea are having a good and peaceful relationship according to the latest news (https://www.usatoday.com/story/news/world/2019/01/14/south-korea-north-korea-relations-no-enemy-designation/2578073002/). Ever since Kim Jong-un have agreed to pass the DMZ to meet his South Korean counterpart they have good talks with each other they even go as far having the same team in the Asian games together. I don't know but Kim Jong-un looks like will not only be saving North Korea but the world as well, this might even decrease the chances of having another world war again. So cheap shots like this won't be possible as it would greatly derail their progress when they get caught.

Yes, as I have read somewhere there is actually no chance that both countries can be at full war against each other even if there will be future disagreement. North Korea is not destined to change the world balance and be the one to first to strike its many enemies. Anyway, this latest development in South Korea is actually a good one for the whole cryptocurrency industry though this can never be the one to ignite the bull run. Doing business as an exchange in the market can be lucrative especially if you are putting the vision maybe 5 years from now when the market can already be showing some maturity.