Enhanced Security for Crypto Exchanges

In a significant move to bolster security within the cryptocurrency sector, the top five domestic won-based virtual asset exchanges have become members of the Financial Security Institute. This membership grants them access to financial sector-level security services, marking a pivotal step towards safeguarding digital assets.

Collaborative Efforts for a Secure Future

During a meeting presided over by Secretary-General Kwon Dae-young, financial security-related institutions and five virtual asset operators, including Dunamu, Bithumb, Coinone, Korbit, and Streami, discussed strategies to enhance financial security. The collaboration underscores the importance of a unified approach to combatting security threats in the rapidly evolving digital asset space.

Building a Robust Security Framework

Kwon emphasized the necessity of establishing a comprehensive security system to support the virtual asset ecosystem's growth. "The integration of virtual asset operators into the Financial Security Institute lays the groundwork for a professional security system," he stated, highlighting the critical role of security in the sector's development.

Preparing for Emerging Threats

The Financial Security Institute presented insights on the need to address sophisticated security threats, including those related to digital assets and AI. Strengthening accident response training and enhancing third-party security were identified as key areas for improvement to ensure a resilient financial ecosystem.

Commitment to Stability and Protection

In response to the challenges, the Financial Supervisory Service announced plans to collaborate with DAXA and virtual asset exchanges to form an IT Stability Enhancement and User Protection Task Force. This initiative aims to mitigate system failures and security incidents, ensuring a safer environment for all stakeholders.