See the full story in the original article.
Read the original on CoinDesk ↗
Keywords
cryptobankscybersecuritySouth Korea
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 11/02/2026 | 76,816.00 |
| Change that session | -1.96% |
ETH/USDT
• NeutralEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $277.2B |
| Close on 11/02/2026 | 2,253.29 |
| Change that session | -0.97% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- South Korea plans cybersecurity overhaul after attacks hit banks, crypto firms
South Korea’s Financial Services Commission (FSC) is proposing tougher cybersecurity assessments after a review found deficiencies at 130 of 555 financial companies. Earlier security incidents involved 16 firms, including crypto exchanges, and exposed about 100,000 pieces of customer information such as names, contact details and ID numbers. Affected firms include Gopax operator Streami and crypto platform Prabang, which disclosed that an Oct. 2 hack exposed some customers’ personal info. Proposed reforms include vulnerability assessments at least twice a year for larger institutions, better information-sharing, possible AI-assisted monitoring for smaller firms, and extra inspections when urgent threats emerge. The FSC is still investigating whether AI was used in the incidents or whether they were linked to the same attackers.
- South Korea's president says country needs a ‘cybersecurity czar’ following $6.3 billion Binance hack
- South Korea urges exchanges to boost cold storage after Binance hack
South Korea's Financial Services Commission has urged domestic crypto exchanges to hold a larger share of assets in cold wallets after the $6.3 billion attack on Binance's hot wallets last week, although local law already requires at least 80% cold storage. Data from the Financial Supervisory Service show cold wallet ratios at the end of September of 99.17% for Upbit, 94.76% for Bithumb, 85% for Coinone, 82.79% for Digital X and 80.54% for GOPAX. The FSC also urged exchanges to continuously monitor deposits and withdrawals, add incident response staff and set aside extra reserves. Separately, the Bank of Korea is surveying 18 banks and 13 brokerages on their exposure to crypto-related risks.
- Bithumb Says Hackers Accessed Internal System, Leaking Personal Data
South Korean crypto exchange Bithumb said an unauthorized outside party accessed its internal mobile groupware system, leading to a leak of personal information, and is investigating whether customer data was affected; an industry source told Yonhap that some customer information had leaked. The same day, brokerage Daishin Securities reported that personal data of 38,490 customers, including names, email addresses and mobile phone numbers, was leaked, and asset manager Mirae Asset Global Investments confirmed a hacking incident, with financial authorities beginning inspections. The breaches follow attacks on 16 South Korean financial firms that caused around 100,000 data leaks, according to the Financial Services Commission. Bithumb has not said how its system was accessed.
- Bithumb hacked through employee system as South Korean financial firms face cyberattacks
South Korean crypto exchange Bithumb said an outsider breached an internal employee mobile system used for work and messaging, and personal information was stolen, though no cryptocurrency funds have been reported lost. The exchange says the system is separate from its trading platform, but has not disclosed how many people were affected or whether deposits and withdrawals were disrupted. The breach comes amid cyberattacks on South Korean financial firms: the Financial Supervisory Service said 16 firms had been hit as of Oct. 14, and Daishin Securities reported a leak affecting 38,490 customers. It is Bithumb's second control lapse this year, after it mistakenly credited customers with 620,000 BTC, worth more than $40 billion at the time, instead of 620,000 won in February.
- Bithumb discloses data leak after internal system breach: Report
South Korean crypto exchange Bithumb is investigating the extent of a data leak after hackers breached its in-house mobile system, which employees use for internal communication and work, earlier this week. Bithumb discovered the breach on Tuesday and notified the Korea Internet & Security Agency and the Personal Information Protection Commission the same day. The exchange said its internal work system is separated from its virtual asset trading system, so customer virtual assets could not be accessed through this breach, while it was still checking whether member data was involved. The incident is part of a wave of cyberattacks on South Korea's financial sector, with 16 financial firms hit as of October 14, according to Governor Lee Chan-jin. Daishin Securities said personal and credit information of 38,490 customers had been leaked.
Related markets
Latest news
- Why tech earnings are facing an unprecedented high bar
Piper Sandler chief investment strategist Michael Kantrowitz says expectations for tech earnings are at an unprecedented high bar. Although the AI businesses of Mag 7 companies performed strongly, core businesses such as AWS, Google Cloud, Amazon's e-commerce and Google's search weakened, which spooked investors. The consensus five-year earnings growth forecast for the tech sector is 43%, versus about 25% in 2000 and about 20% a year ago. Market multiples have fallen from 23 to just below 19, partly reflecting AI capex and concern that growth may have peaked, so many companies' earnings may not be sustainable. Among higher-beta, cyclical names, the strategist says companies that are currently profitable and generate strong free cash flow are preferred.
- AI Faces A Higher Hurdle, Not An Extinction Event After Democrats' Midterm Sweep, Says Saxo Strategist
Democrats won control of both the House and Senate, which could limit President Donald Trump's legislative agenda over his remaining two years and add uncertainty for AI and tech stocks, according to Saxo. Chief Investment Strategist Charu Chanana flagged three risks: greater congressional oversight of AI companies, data-center restrictions over electricity, water use and permits, and uncertainty over capital spending. Investors may demand more on the funding and profitability of AI infrastructure, shifting attention toward companies showing meaningful returns. Saxo suggested that firms using AI to boost productivity without heavy infrastructure spending could attract more interest, and that Nvidia's (NVDA) upcoming earnings would be a more meaningful test of the AI outlook than the election itself.
- Buy, Sell, or Hold? Wednesday’s Top Upgrades and Downgrades: Adobe, Apple, Duolingo, Exxon Mobil, Fiserv, Fortinet, Gartner, Lockheed Martin, Skyworks Solutions, Visa and More
Wall Street analysts changed ratings on several major stocks on Wednesday, November 4, 2026. Constellation Brands (STZ) was raised to Neutral from Underperform at Bank of America, with its target price lifted to $160 from $120, while Duolingo (DUOL) was upgraded to Equal Weight from Underweight at Wells Fargo with a target of $120 from $80. On the downside, Adobe (ADBE) was cut to Sell from Neutral at Citigroup, which lowered its target to $207 from $250, and Apple (AAPL) was downgraded to Hold from Buy at DZ Bank with a $300 target. The article also reports that on Tuesday the Nasdaq closed up 0.83% at 25,372 and the S&P 500 rose 0.36% to 7,568, while the Dow fell 0.38% to 51,786, weighed down by Apple.
- Tech Sell-Off: 2 Growth Stocks Investors Might Regret Not Buying on the Dip
The Nasdaq-100 was down 9% from its peak as of last Friday's close, as investors grew concerned about whether the AI spending boom can last, weighing on chip makers such as Nvidia and Micron Technology. The author argues that the broader market has always recovered to new highs over the long term, and highlights two growth stocks. Zscaler (ZS) is presented as a pioneer of the zero trust cybersecurity architecture, with fiscal 2026 revenue up 25% to $3.35 billion and a price-to-sales ratio of 11.3. Meta Platforms (META) is described as using AI to boost engagement across its apps, with its Muse personal AI agent reaching over 10 million users, and its stock trades at a price-to-earnings ratio of 20.9 versus 29.9 for the Nasdaq-100 after falling 20% from its peak.
- USDC Issuer Circle Quietly Cuts 5% of Staff in Profitable Quarter
Circle, the issuer of the USDC stablecoin, cut about 5% of its workforce to better align its organization with its operating model and strategic priorities, according to its Q3 results. It booked $9.1 million in restructuring charges, mostly severance and notice-period payments, even as net income from continuing operations rose 5% to $226 million. Much of the growth came from outside its core business, including $182 million from the presale of ARC tokens, while reserve income fell 8% to $658 million as reserve interest rates declined. The article notes Circle is one of several crypto firms, including Coinbase, BitGo and the Ethereum Foundation, that have cut staff this year.
- Nvidia Took Back the World’s Biggest Company Title From Apple on Election Day
Nvidia rose 2.29% to $206.69 on Tuesday, giving it a market value of $4.99 trillion and returning it to the top spot ahead of Apple, which fell 1.90% to $331.90 for a $4.84 trillion valuation. Nvidia’s lead is about $149 billion, well ahead of Microsoft at $3.87 trillion and Alphabet at $3.44 trillion. The article links rising AI-driven memory prices to Apple’s margins, which Apple guided to 45% to 46% for the December quarter, versus 47.9% in the quarter just reported, with roughly one point of that quarter’s margin from tariff refunds that will not recur. Nvidia guided fiscal third-quarter revenue to $108 billion, plus or minus 2%, and reports on November 17.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.