Article • 11 months ago
Upbit Enhances Security Measures to Combat Hacking Attacks and Increases Market Share by 5.5%
Summary
- Upbit has increased the percentage of funds held in cold wallets by 70% to combat rising hacking attacks.
- The company has also bolstered security measures for its hot wallet funds to provide heightened protection for users' assets.
- Following regulatory issues faced by Binance, Upbit has experienced a 5.5% growth in market share, positioning itself as a strong competitor in the cryptocurrency exchange market.
- Despite a major hack in 2019 that resulted in a loss of $51 million worth of Ethereum, Upbit demonstrated resilience by resuming normal operations after a two-month hiatus, emphasizing its commitment to ensuring a secure platform for its users.
- Upbit has not limited its activities to the crypto space alone and has expanded its brand presence through sports sponsorship, partnering with Napoli, an Italian football club, in both Serie A and Coppa Italia competitions. This move reflects Upbit's willingness to explore new avenues for brand promotion and engage with a broader audience.
