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South Korea's Big Five Crypto Exchanges Pay $5.1M After 57 Hacks and System Failures (2020–Apr 2026)

South Korea's five largest cryptocurrency exchanges reported 57 hacking and system-related incidents between 2020 and April 2026, paying a combined roughly KRW 7 billion (about $5.1 million) in compensation. Disclosures show Upbit logged the most incidents at 26, followed by Bithumb with 14, Gopax with 8, Coinone with 6, and Korbit with 3. Bithumb's largest payout was about KRW 2.5 billion tied to a Bitcoin misissuance incident in February 2026. Upbit paid about KRW 790 million after a hacking case in November 2025. The report also pointed to uneven reporting standards and differing compensation practices across the exchanges.
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