Last year, domestic virtual asset exchanges that caused access disruptions during the state of emergency carried out server expansions along with nearly 4 billion won in user compensation.
The Financial Supervisory Service announced the results of the IT safety and complaint handling inspections of virtual asset exchanges on the 6th. Dunamu, the operator of Upbit, decided to compensate for 604 out of 1,135 compensation requests, with a total compensation amount of 3.16 billion won. Bithumb agreed to compensate 50 million won for 154 cases.
Additionally, Dunamu, Bithumb, and Coinone expanded their servers and increased the capacity to accommodate simultaneous users to prevent a recurrence of access disruptions. As a result, Dunamu increased its capacity for simultaneous users from 500,000 to 900,000. Bithumb increased its capacity from 100,000 to 360,000, and Coinone raised its capacity from 100,000 to 500,000.
On Dec. 3 last year, just after President Yoon Suk-yeol announced the state of emergency, access to the three exchanges, including Upbit, Bithumb, and Coinone, was delayed for about 1 to 2 hours. As a result, some users experienced difficulties with virtual asset investments and were incurred losses.
On that day, the FSS summoned the CEOs of the top five exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax) at 5 p.m. to check measures to prevent the recurrence of technical disruptions. Lee Jong-oh, deputy head of the FSS Digital and IT Division, noted that "considering the characteristics of the 24-hour operating virtual asset market, it is necessary to secure IT stability above that of financial institutions."