Korean Prabang Exchange Hacked, Losses Estimated at 100 Million KRW

The South Korean cryptocurrency exchange Prabang reported an incident of unauthorized external access on October 26 and has filed a report with the relevant authorities. The exchange discovered abnormal withdrawals from its hot wallet on October 24, and after initiating an emergency response, identified a security vulnerability. The preliminary estimated loss is around 100 million KRW (approximately 70,000 USD). To protect customer assets, Prabang has suspended services and promised to fully compensate the losses with company assets after verification.

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