South Korea's Five Major Crypto Exchanges Faced 57 Security and System Incidents Over 6 Years, Paid 7B Won in Compensation

According to Yonhap News, South Korea's five major virtual asset platforms—Upbit, Bithumb, Coinone, Korbit, and Gopax—faced 57 hacking and system failure incidents over the past 6 years from 2020 to April 2026, with total compensation reaching 7 billion won (approximately $51 million).

Upbit reported 26 incidents, followed by Bithumb with 14, Gopax 8, Coinone 6, and Korbit 3. Notable compensation cases include Bithumb paying approximately 2.5 billion won for a February 2026 BTC misdistribution error, and Upbit compensating 3.2 billion won for a December 3, 2024 system outage and 790 million won for a November 2025 hacking incident.