South Korean crypto exchange Prabang hit by cyberattack, loses approximately 100 million won, suspends services

TechFlow reported on Oct. 29 that, according to Yonhap News Agency, South Korean crypto asset exchange Prabang disclosed on Oct. 26 that it had suffered a security breach involving unauthorized external access and had reported the incident to relevant authorities. The exchange detected abnormal withdrawals from its hot wallet on Oct. 24, initiated emergency response procedures, and identified a security vulnerability. Preliminary estimates put losses at approximately 100 million won (about $70,000). To protect customer assets, Prabang has suspended services and pledged to fully compensate users with company assets after verifying the losses.

Source: TechFlow