Account theft from cryptocurrency exchanges for manipulating market prices
As cryptocurrency prices soared, hacking attacks aimed at them also surged. The hacking organization used personal information distributed on the dark web to steal cryptocurrency exchange accounts and even manipulated the market price.
According to the industry on the 5th, the security of the exchange turned red as hacking attacks targeting cryptocurrency exchanges increased recently. Cryptocurrency exchanges have a double whammy of responding to hacking attacks as they go through procedures such as reporting virtual assets under the Act on Reporting and Use of Specific Financial Transaction Information (Specialty Act), which took effect in March.
According to an official of the cryptocurrency exchange, the hacking organization has evolved into stealing the cryptocurrency exchange user account and then attempting to manipulate the market with the account and then stealing virtual assets.
Account management is becoming more crucial to prevent attacks that happen by logging in with stolen accounts as cryptocurrency transactions and popularity increase.
[Source: Electronic Times https://www.etnews.com/20210504000135]
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Data masking, also known as data obfuscation, hides the actual data using modified content like characters or numbers. The idea behind data masking is creating another version of data that cannot be easily identifiable or reverse engineered, protecting data classified as sensitive.
NETAND, specializing in integrated access and identity management solutions, announced that it was selected last month in the information and communication field of the “National 1000 Innovative Enterprises.”
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