 | |
| Founded | 2017 |
|---|---|
| Headquarters | , |
| Products | Cryptocurrency exchange |
| Parent | Dunamu Inc. |
| Website |
www |
Upbit is a South Korean cryptocurrency exchange founded in 2017. [1] It is operated by Dunamu, which is one of the highest-valued startups in South Korea. [2]
History
Upbit launched in South Korea on October 24, 2017, with the help of their partnership with American cryptocurrency exchange Bittrex. [1]
Sirgoo Lee was named CEO of Dunamu, Upbit's parent company, on December 21, 2017, with Dunamu founder and CEO Chi-hyung Song assuming the role of chairman. Lee previously served as Co-CEO of Kakao Corp. and JOINS, Inc. [3]
Approximately two months after its launch, Upbit became the top global cryptocurrency exchange in terms of 24-hour trading volume. [4]
On May 10, 2018, its main office was raided as part of a fraud probe. [5]
The exchange began expanding into Southeast Asia in late 2018, first by launching in Singapore on October 30, [6] and then beginning services in Indonesia starting January 2019[ citation needed], and Thailand starting January 2021. [7]
On December 21, 2018, three Upbit officials were indicted for allegedly making fake orders. The exchange has denied the allegations. [8] [9] [10]
In December 2018, Upbit became the first cryptocurrency exchange in the world to receive certifications from the Korea Internet and Security Agency for Information Security Management System (ISMS)[ citation needed] and the International Organization for Standardization (ISO) for information security (ISO 27001), cloud security (ISO 27017) and cloud privacy (ISO 27018). [11]
On November 27, 2019, Upbit lost about US$48.5 million worth of Ethereum from a hack. [12]
In September 2021, South Korea started to regulate virtual asset service providers. [13]
References
- ^ a b "Korea's Largest Cryptocurrency Exchange 'Upbit' Starts Providing Open Beta Services". BusinessKorea. October 25, 2017.
- ^ Kang, John. "NFT Craze, Cryptocurrency Boom Mint Korea's First Two Billionaires From Crypto Industry". Forbes. Retrieved 2021-11-13.
- ^ "Ex-Kakao CEO named to lead Upbit operator Dunamu". www.theinvestor.co.kr. Retrieved 2019-04-12.
- ^ "Korea's Cryptocurrency Exchange 'Upbit' Ranks First in the World in Daily Transactions". 비즈니스코리아 - BusinessKorea (in Korean). 2018-01-17. Retrieved 2019-04-12.
- ^ "Bitcoin Prices Slide as South Korea's Largest Crypto Exchange Gets Raided". The Wall Street Journal. May 11, 2018.
- ^ "Upbit launches crypto exchange in Singapore". www.theinvestor.co.kr. Retrieved 2019-04-12.
- ^ "Upbit upsets crypto balance of power". Bangkok Post. Retrieved 2021-07-13.
- ^ "Upbit indicted for issuing fake cryptocurrency orders". The Korea Times. December 21, 2018.
- ^ "Another cryptocurrency fraud case further dampens market sentiment". The Korean Herald. December 21, 2018.
- ^ "Upbit cryptoexchange may have faked trades". Korea JoongAng Daily. December 22, 2018.
- ^ "Upbit wins 3 ISO information security certifications". 서울경제 (in Korean). 2018-12-11. Archived from the original on 2019-04-12.
- ^ Osborne, Charlie (November 27, 2019). "Upbit cryptocurrency exchange loses $48.5 million to hackers". ZDNet.
- ^ Euihyun Bae (September 24, 2021). "South Korea Takes First Step to Regulate Virtual Asset Service Providers". The Diplomat.
External links
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| Proof of work currencies |
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| Inactive currencies | |||||||||||||||
| Cryptocurrency exchanges |
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| Crypto service companies | |||||||||||||||
| Related topics |
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|
| |
| Founded | 2017 |
|---|---|
| Headquarters | , |
| Products | Cryptocurrency exchange |
| Parent | Dunamu Inc. |
| Website |
www |
Upbit is a South Korean cryptocurrency exchange founded in 2017. [1] It is operated by Dunamu, which is one of the highest-valued startups in South Korea. [2]
History
Upbit launched in South Korea on October 24, 2017, with the help of their partnership with American cryptocurrency exchange Bittrex. [1]
Sirgoo Lee was named CEO of Dunamu, Upbit's parent company, on December 21, 2017, with Dunamu founder and CEO Chi-hyung Song assuming the role of chairman. Lee previously served as Co-CEO of Kakao Corp. and JOINS, Inc. [3]
Approximately two months after its launch, Upbit became the top global cryptocurrency exchange in terms of 24-hour trading volume. [4]
On May 10, 2018, its main office was raided as part of a fraud probe. [5]
The exchange began expanding into Southeast Asia in late 2018, first by launching in Singapore on October 30, [6] and then beginning services in Indonesia starting January 2019[ citation needed], and Thailand starting January 2021. [7]
On December 21, 2018, three Upbit officials were indicted for allegedly making fake orders. The exchange has denied the allegations. [8] [9] [10]
In December 2018, Upbit became the first cryptocurrency exchange in the world to receive certifications from the Korea Internet and Security Agency for Information Security Management System (ISMS)[ citation needed] and the International Organization for Standardization (ISO) for information security (ISO 27001), cloud security (ISO 27017) and cloud privacy (ISO 27018). [11]
On November 27, 2019, Upbit lost about US$48.5 million worth of Ethereum from a hack. [12]
In September 2021, South Korea started to regulate virtual asset service providers. [13]
References
- ^ a b "Korea's Largest Cryptocurrency Exchange 'Upbit' Starts Providing Open Beta Services". BusinessKorea. October 25, 2017.
- ^ Kang, John. "NFT Craze, Cryptocurrency Boom Mint Korea's First Two Billionaires From Crypto Industry". Forbes. Retrieved 2021-11-13.
- ^ "Ex-Kakao CEO named to lead Upbit operator Dunamu". www.theinvestor.co.kr. Retrieved 2019-04-12.
- ^ "Korea's Cryptocurrency Exchange 'Upbit' Ranks First in the World in Daily Transactions". 비즈니스코리아 - BusinessKorea (in Korean). 2018-01-17. Retrieved 2019-04-12.
- ^ "Bitcoin Prices Slide as South Korea's Largest Crypto Exchange Gets Raided". The Wall Street Journal. May 11, 2018.
- ^ "Upbit launches crypto exchange in Singapore". www.theinvestor.co.kr. Retrieved 2019-04-12.
- ^ "Upbit upsets crypto balance of power". Bangkok Post. Retrieved 2021-07-13.
- ^ "Upbit indicted for issuing fake cryptocurrency orders". The Korea Times. December 21, 2018.
- ^ "Another cryptocurrency fraud case further dampens market sentiment". The Korean Herald. December 21, 2018.
- ^ "Upbit cryptoexchange may have faked trades". Korea JoongAng Daily. December 22, 2018.
- ^ "Upbit wins 3 ISO information security certifications". 서울경제 (in Korean). 2018-12-11. Archived from the original on 2019-04-12.
- ^ Osborne, Charlie (November 27, 2019). "Upbit cryptocurrency exchange loses $48.5 million to hackers". ZDNet.
- ^ Euihyun Bae (September 24, 2021). "South Korea Takes First Step to Regulate Virtual Asset Service Providers". The Diplomat.
External links
| Technology | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Consensus mechanisms | |||||||||||||||
| Proof of work currencies |
| ||||||||||||||
| Proof of stake currencies | |||||||||||||||
| ERC-20 tokens | |||||||||||||||
| Stablecoins | |||||||||||||||
| Other currencies | |||||||||||||||
| Inactive currencies | |||||||||||||||
| Cryptocurrency exchanges |
| ||||||||||||||
| Crypto service companies | |||||||||||||||
| Related topics |
| ||||||||||||||