Asian crypto exchange: why they are hacked the most
https://preview.redd.it/ic470rk03m721.jpg?width=1080&format=pjpg&auto=webp&s=2fcbef2c6e8a84c47a4f7930e4bf7f586f3f446b The majority of hacked crypto exchanges are Asian. In the past few months, tens millions of dollars have been stolen from them. Exchanges that operate in the US and the EU are also under attack, but not so often. Why do Asian sites come under attack mainly? As it turned out, they have a very low level of cyber security. In countries where they work very carelessly about data protection, there are no laws that at the national and regional levels could help protect customers. A part of crypto exchanges has not updated protocols and security systems for a long time. According to American experts in the field of data protection, more than 90% of the servers of the exchanges did not update their protocols. This was immediately used by scammers who didn’t need to hack the system and steal the owners' money. Another reason for the numerous break-ins of the Asian platforms is that they are very frivolous about new coins. They include in the listing a large number of altcoins, the safety of which is highly dubious. The more such coins the exchange places on its site, the higher the chances that hackers will be able to exploit their weak points and hack the whole network. Analysts believe that a large number of hacks on Asian platforms are also due to the fact that the Chinese and DPRK authorities use their full-time hackers to harm other states in this part of the planet. This is mainly done by hackers from the DPRK, who have been tasked with stealing money and transferring it to the country's treasury. The Chinese mostly hack networks to steal new developments. Such a set of vulnerabilities has led to the fact that Asian sites are constantly being hacked and theft many millions of dollars. Only now the authorities of Japan and other countries began to develop more stringent measures in order to force crypto exchanges to strictly implement the recommendations of cybersecurity experts. The site owners have finally begun to upgrade their systems and pay increased attention to the protection of customer data and their verification. However, scammers do not stand still and use more and more sophisticated methods of hacking. As long as the sites lose to them in this fight and according to analysts, the number of hacks will increase until the exchanges defend themselves effectively.
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The crypto world’s center of gravity is Asia. Big crypto-exchanges and companies operate in Europe and North America, but the majority of users are located in the Asia Pacific region, as are most of the world’s biggest exchanges and mining pools. There are many reasons why this is the case. But experts speaking to Cryptonews.com […] Another Asian crypto exchange hacked November 13, 2019 Bitcoin. While the Asian region is famous for its crypto acceptance and advanced technology, it is also quite infamous for numerous crypto exchange hacks that have occurred over the years. According to recent reports, however, it doesn't seem like the trend of targeting Asian cryptocurrency Huobi is a Singapore-based crypto exchange which was originally founded in China. Today, the company has offices in Hong Kong, Japan, Korea, and the United States. On Huobi, you can buy and sell cryptocurrencies peer-to-peer. The platform has a 0.2% fee for amounts between $0 and $5,000,000 over the course of a 30-day period. Japanese Crypto Exchange Coincheck to Launch IEO August 26, 2020 종원 정 Uncategorized Coincheck, one of the biggest crypto trades in Japan, reported that it would uphold a household organization to dispatch the nation’s first Initial Exchange Offering (IEO) and raise reserves through a symbolic deal. Users of Binance can quickly and easily make crypto-to-crypto exchanges, and the platform has recently undergone a complete redesign to bring its user interface up to the standard offered by other market leading exchanges, like OKEx.. The exchange prides itself in educating investors new to the space and features its dedicated ‘Binance Academy’ as a place to go to watch and learn all the
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