Korea

South Korea Crypto Exchange Bithumb Says System Flaws Led to $40 Billion Error

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South Korea Crypto Exchange Bithumb Says System Flaws Led to $40 Billion Error

South Korea’s Bithumb said on Wednesday that serious flaws had left the crypto exchange’s internal system susceptible to potential sabotage and failed to prevent an erroneous transfer of more than $40 billion in assets last week. The country’s second-largest virtual asset exchange said it accidentally gave away about 620,000 bitcoins to customers during a promotional […]

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S. Korea Blames Coupang Data Breach on Management Failure, Not Sophisticated Attack

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South Korea Agency Fines SK Telecom $97 Million Over Major Data Leak

South Korean officials blamed a massive data leak last year at Coupang on management failure, rather than a sophisticated cyberattack, and urged the e-commerce giant to fix vulnerabilities in its security systems. Announcing the first findings of a government-led probe, the Science Ministry said on Tuesday a former Coupang engineer, who was aware of flaws

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South Korea Online Retailer Coupang Faces US Securities Class Action Over Data Breach

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South Korea Online Retailer Coupang Faces US Securities Class Action Over Data Breach

The lawsuit, filed last week in federal court in California, claims Coupang, its CEO and Chairman Bom Kim and its Chief Financial Officer Gaurav Anand misled investors about the company’s data security practices and failed to disclose the breach in a timely way. Coupang, South Korea’s biggest online retailer, last month apologized over the breach

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Immigration Raid Disruptions Spread, Casting Pall on Korea Investment

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Immigration Raid Disruptions Spread, Casting Pall on Korea Investment

Fallout from last week’s unprecedented immigration raid at a Georgia battery plant run by two South Korean firms is reverberating across the industry, highlighting risks to the billions of dollars the Asian nation has invested in America’s clean energy push. Construction has now been disrupted at multiple LG Energy Solution Ltd. sites across the US

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