Korean Crypto Exchanges Revise Terms of Service in Boost for Investors
By CCN Markets: According to The Korea Herald, Bithumb and four other major crypto exchanges in South Korea have formally changed their terms of service to become liable for potential hacking attacks that may affect users.
Mobile interface of Bithumb, South Korea’s largest crypto exchange alongside UPbit. | Source: Shutterstock
The report read:
“Five cryptocurrency exchanges have changed their terms of service in a way that they can be liable for problems caused by potential cyberattacks or system malfunctions, even if operators are not willfully or grossly negligent, South Korea’s antitrust regulator said Monday.”
The change in terms of service by exchanges follows the encouragement of the Korea Blockchain Association toward exchanges to establish a better system to address security breaches.
