FSS governor: Upbit hack is a trust issue that cannot be overlooked

South Korean Financial Supervisory Service (FSS) Governor Lee Chan-jin stated that the recent hacking incident at the crypto exchange Upbit is not an issue that can be simply overlooked, Money Today reported. Lee emphasized that stability and system security are the lifeblood of an exchange and that the incident has compromised trust. He added that the event will serve as a crucial opportunity to address vulnerabilities during the push for the second phase of virtual asset legislation. The comments follow a security breach at Upbit on Nov. 27, which resulted in the theft of virtual assets worth 44.5 billion won.