Upbit Delayed Hack Report to Regulators During Dunamu–Naver Merger Talks
South Korea’s Upbit informed the Financial Supervisory Service (national financial regulator) over six hours after a hack, while parent firm Dunamu discussed merging with tech giant Naver.
Summary
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Terms & Concepts
Financial Supervisory Service (FSS): South Korea’s national financial regulator overseeing banks, securities, and insurance sectors.
Hack: An unauthorized breach into systems to steal data or digital assets.
Merger: The combination of two companies into a single entity, often to expand market share or capabilities.