Korean Association of the Blockchain (KBA), which assumed the role of mediator between the government and representatives of kryptonyte, has completed an internal audit of cryptocurrency exchanges. As a result, 12 of the 14 trading platforms comply with “General standards” KBA. It is reported by Yonhap News.
The Agency carried out the test with the help of interviews of exchanges without having to model hacker threats.
Approval from the KBA received platform: Dexko, Hanbitco, Korea OKCoin, Huobi Korea, Bithumb, Upbit, Neoframe, Gopax, Cpdax, Coinzest, Korbit and Coinone. Site Sunny7 and Komid has refused inspection.
Standards from KBA include a number of requirements, for example, that exchanges cold wallets, and compliance with anti-money laundering. One of the rules presupposes the existence of share capital in the amount of not less than two billion KRW ($1.8 million).
“Validation does not guarantee absolute security platforms. The result only shows that 12 exchanges meet our minimum requirements. It’s like issuing a driver’s license. It’s hard to say they are good drivers or not,” — said the Chairman of the KBA June high Gini.
He also stated that it had identified significant security gaps in some of the audited exchanges, but declined to name them because of possible cyber-attacks on the platform.
Note, the largest exchange of the country Bithumb received approval from the Association despite the fact that in June became the victim of a hacker attack, during which it was stolen more than $30 million But the cooperation with cryptocurrency platforms allowed Bithumb twice to reduce damage from attacks.
We will remind, in April the Korean Association of blockchain has proposed a set of rules of self-regulation designed to set standards for the operation of the cryptocurrency exchanges.