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The South Korean trading platform Prabang was attacked, resulting in a loss of approximately 100 million Korean won

According to reports from Yonhap News, the South Korean virtual asset trading platform Prabang has announced a temporary service suspension due to a hacker attack that resulted in an asset loss of approximately 100 million Korean Won, stating that it will fully compensate the affected funds with the company's own assets.According to industry sources, Prabang discovered abnormal transfers from its hot wallet on October 24 and immediately initiated an emergency response and comprehensive investigation, during which a security vulnerability was found. After confirming unauthorized external access on October 26, the platform reported the incident to relevant authorities and continues to investigate the cause and extent of the losses.Yonhap News stated that there have been a series of hacker-related incidents in the financial and virtual asset industry recently, with this being the first confirmed case of asset loss. The report mentioned that this incident appears to be different from the Prabang-related incident mentioned by financial authorities in the AI hacker intrusion inspection results on October 14. Additionally, on October 27, Bithumb experienced a hacker attack targeting its internal systems, leading to the leakage of employee personal information. On the same day, several Korean Won trading platforms also faced intrusion attempts targeting personal information and assets.

first_img Stacks Founder: Quantum concerns have limited Bitcoin's growth, calling for a quantum-resistant upgrade before 2028

Muneeb Ali, co-founder of the Bitcoin Layer2 network Stacks, stated in Cointelegraph's Chain Reaction podcast that concerns surrounding quantum computing are suppressing institutional funds from entering Bitcoin, and the network needs a credible security upgrade roadmap to restore investor confidence. He mentioned, "Quantum concerns have set a ceiling on Bitcoin's growth," believing that this uncertainty may lead risk-averse institutional investors to delay large purchases until developers provide a clear path to quantum resistance. Stacks is a Bitcoin Layer2 network aimed at introducing smart contracts and decentralized applications to Bitcoin, and Ali is a co-founder of the project.Ali warned that if developers fail to make substantial progress in quantum resistance by 2028, Bitcoin could enter a riskier phase. He pointed out that upgrades typically take years to implement, and users will need additional time to migrate their assets to new addresses. Citing guidance from the National Institute of Standards and Technology (NIST), he views 2030 as a target node for transitioning to quantum resistance and believes advancements in artificial intelligence could accelerate the development of quantum computers, potentially moving this timeline up to 2029.Ali acknowledged that some Bitcoin supporters believe the quantum threat is distant and that concerns are exaggerated, but he thinks that the very disagreement over the urgency of the threat, in the absence of a credible upgrade roadmap, will undermine investor confidence. He also stated that sufficiently powerful quantum computers are more likely to emerge from large research laboratories rather than unknown attackers, and companies like Google and Microsoft lack the motivation to steal Bitcoin, but the quantum security threat will impact the entire crypto industry, "If Bitcoin is hit, all downstream projects will be affected." Currently, developers are exploring protective solutions, with StarkWare stating in September that researchers reduced the computational cost of preparing an experimental quantum-resistant Bitcoin transaction by 79% after a week of optimization challenges. This solution does not require modifications to Bitcoin's consensus rules, but the cost reduction has only been validated in benchmark tests.
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