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Some of South Korea's largest cryptocurrency exchanges passed a government security check, but most could be exposed to attacks, according to ZDNet, on January 10th.
Bithumb, Coinone and Korbit, as well as four other major exchanges, satisfied the investigators during the audit, which took place between September and December 2018.
Of the 21 platforms involved, however, the remaining 14 failed to meet the criteria for adequate security procedures.
Previously, South Korea had one of the most active cryptocurrency trading economies in the world, before regulatory upheavals saw drastic changes in consumer habits towards the end of 2017.
Meanwhile, the attackers continually targeted South Korean operators to steal funds from users, and even those officially safe as Bithumb reported violations last year worth tens of millions of dollars.
The last scrutiny of the legislators examined 85 different aspects of security, and found that among those who did not pass, an average of 51 aspects required attention, reports ZDNet.
Last month, a court acquitted Bithumb in a lawsuit filed by an investor who claimed to have lost $ 355,000 worth of funds due to the platform.
Although no mention of interruptions as a result of poor performance emerged, Seoul was more draconian on some other aspects of the cryptocurrency industry, with initial coin offerings (ICOs) still subject to a total ban under its jurisdiction.
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