In the past 6 years, the five major virtual asset platforms in South Korea have experienced 57 incidents of hacking and system failures, with a total compensation amount reaching 7 billion won

According to the Korea Herald, the five major virtual asset trading platforms in South Korea (Upbit, Bithumb, Coinone, Korbit, Gopax) have experienced a total of 57 hacking attacks and system failure incidents over the past six years (from 2020 to April 2026), with a total compensation amount of approximately 7 billion Korean won (about 5.1 million USD). By exchange, the number of incidents is as follows: Upbit 26 incidents, Bithumb 14 incidents, Gopax 8 incidents, Coinone 6 incidents, Korbit 3 incidents.

Among them, Bithumb compensated approximately 2.5 billion Korean won (about 1.8 million USD) for the BTC mis-distribution incident in February this year, Upbit compensated approximately 790 million Korean won (about 570,000 USD) for a hacking incident in November 2025, and compensated approximately 3.2 billion Korean won (about 2.3 million USD) for a system incident on December 3, 2024. It is worth noting that the standards for compiling incident reports and the scale and form of compensation vary among exchanges. For example, Gopax counts errors that occur when viewing the asset list as system failures, while Bithumb only counts situations where all customers encounter difficulties using core services for more than 10 minutes as system failures. Additionally, Bithumb provided some applicants who suffered losses due to system failures with free vouchers instead of cash compensation. The compensation amounts for system failures are as follows: Upbit approximately 3.21 billion Korean won, Bithumb approximately 3.2 billion Korean won, Coinone approximately 49 million Korean won. Korbit and Gopax did not provide any compensation.