The government of South Korea recently release the results of security inspection of Cryptocurrency exchanges. Seven out of 85 only passed the inspection point. In past, 14 exchanges inspected and still don’t seen any improvement and 17 new crypto exchanges did to match the security standards. The ministry of South Korea announced these results on Social Media so that normal people get aware of it.

By association of Korea Internet and Security agency, the government inspected a complete of 38 exchanges around September and December in 2018. Twenty one of them were earlier inspected among January and March last year while 17 exchanges were examined for the first time.

The recent last inspection, recommendation were give 21 exchanges to enhance particular security measures. Only 7 of the made necessary actions and match with all 85 items from inspection checklist. 85 point of checklist are related to the administrative security, account management, network separation, virtual currency wallet management and other different points.  Most of the cryptocurrency exchanges checked did not encounter basic safety standards. The 14 before inspected exchanges have not made the needed improvements, government bureaucrats told reporters. The ministry said it will stay to review and examine crypto exchanges for security defects, with a focus on defensive investors from hacking occurrences.

What do you think about the crypto exchanges passing the Korean government safety inspection? Let us know in the comments section below or tab the button of like. You can also share with your network.


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