October 21, 2020

Upbit updated security systems after hacking

Upbit updated security systems after hacking

The popular South Korean cryptocurrency exchange Upbit again opened deposits in ETH almost two months after hacking their wallets at 342,000 ETH.

According to the official announcement of the exchange, the systemThe security of her ETH wallet has been updated. Now she will again support replenishment and withdrawal of ETH. In addition, a software update improved wallet protection for BTC, LTC, EOS, and XRP by adding distributed coin storage options and improving the transaction security infrastructure.

Traders need to create a new wallet address to which ETH stored on the exchange will be automatically deposited. In addition, Upbit asks users to delete their old addresses.

On November 26, Upbit representatives confirmed the loss of more than 342,000 ETH from their hot wallet. At that time, lost assets cost about $ 49 million.

Immediately after the hack, the exchange transferred all remaining digital assets to cold storage as a precautionary measure and suspended all trading functions.