[Crypto] The Case of Hacking on the Exchange in Korea

IONIA
IONIA
Sep 5, 2018 · 2 min read

10.06.18 coinrail

I am John :)

In 2017, a series of exchange hacking attacks occurred in 2018.
It was much more than the 2017 hacking case on the exchange, and the damage was at its highest, making it difficult in Korea.

4.June 10, 2018 CoinRail Hacking

Damage amount of KRW 40 billion
9 types of cryptocurrencies such as FundiX, Enfer, and Aston hacking
It is the seventh largest hacking case in Korea.

Coinleil’s a way of compensating.

They would buy the cryptocurrencies and pay it back.
And the other option was to issue an RAIL of cryptocurrency to provide options for exchange.

The coin they issued?????!!!
This is how the creative economy works!

Compensation policy with the condition that rail(token) is issued in a key currency and that it can be used to trade other cryptocurrencies only in coinrail exchange, and that it cannot be converted into cash or bitcoin.

They said they would compensate the customer for the damage and issue their own coins.In addition, Coinrail has capital of 10 million won. And they weren’t even sure if they had insurance against hacking. Eventually, the users will have to embrace the hacking damage again. The exchange doesn’t offer a reasonable compensation package.

Hacking has begun to happen frequently.

How to Stop Hacking 100%
How to compensate for hacking.

I don’t think there’s anything that’s been presented clearly or presented yet.

Small and medium-sized exchanges have been hacked and are known in the news, but within a few days, hacking of large-scale exchanges takes place.

I’ll talk to you next time


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Ionia project and product introduction website

The Project IONIA http://www.ionia.one
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Twitter https://twitter.com/Ionia_io

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IONIA

The World’s first liquidity supply type Decentralized Exchange

IONIA

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IONIA

IONIA

IONIA

The World’s first liquidity supply type Decentralized Exchange

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