kisa

According to a report by the South Korean media Decenter, a report from the Korea Internet & Security Agency (KISA) shows that a large number of South Korean cryptocurrency exchanges have not obtained ISMS-P certification, which is considered the minimum standard for personal information protection, and their security investments are also deemed insufficient.Among the six non-Korean won trading (Coin Market) exchanges newly registered and renewed as virtual asset service providers (VASP) this year through the Financial Intelligence Unit (FIU) of the South Korean Financial Services Commission, five only hold basic ISMS certification. The ISMS certification does not include personal information protection requirements. Among the major exchanges supporting Korean won trading, GOPAX has also not obtained ISMS-P certification.Large exchanges also face issues of insufficient security investment and dedicated personnel. The three major exchanges that have disclosed their information security status to KISA—Upbit, Bithumb, and GOPAX—have allocated only about 10% of their total IT investment to information security. In South Korea, the proportion of information security personnel at Upbit, Bithumb, and GOPAX is only 9%, 10.2%, and 12.5%, respectively. The third and fourth largest exchanges in South Korea, Coinone and Korbit, have not even proactively disclosed their information security measures.

ChainCatcher news, according to Decenter, the Financial Services Commission (FSC) of South Korea has announced that it has signed a memorandum of understanding with the Korea Internet & Security Agency (KISA) to cooperate in investigating unfair trading of virtual assets. This is due to numerous allegations of market manipulation in the virtual asset market and fraudulent transactions combined with information technology (IT).FSC Chairman Lee Bok-hyun stated, "Unlike capital markets, unfair trading of virtual assets requires digital information analysis, such as fact-checking related to cyber attacks. We will establish a real-time response system with KISA to prevent disguised cyber attacks or manipulation of digital information. For example, if a digital asset issuer hides code for manipulating the network in a smart contract, arbitrarily changing the issuance and circulation amounts, which contradicts the digital asset allocation plan stated in the white paper, then digital information analysis will be necessary."