Bithumb and Upbit received the BB rating, two notches below the global highest rankers Binance, CoinBase Pro and Huobi Global. Bithumb and Upbit ranked highest among the Korean cryptocurrency exchanges.
The global rating and analysis firm Token Insight reported the 2018 fourth-quarter rating after gauging the seven sets of criteria with a maximum score of 100. They include technical risk, operational risk, risk coping capacity, trading activity, community activity, user experience friendliness, and risk warning.
It said the two South Korean exchanges have the “average risk control ability, probably affected by external risk and average ecosystem.”
CoinOne was ranked B, but KorBit failed to get any rating this time.
Upbit got the highest score of 66. It enjoyed a higher score of 85 in social media interaction including Facebook and Twitter. However, it got a lower score of 48 in operational risk management.
Bithumb was on a par with other top rankers including Binance, and Huobi Global in technical risk (70 points) and operational risk (73 points). It got the poorest score of 30 points in risk coping capacity for its failure to prevent the hacking attacks.
Bithumb was one notch higher from the third quarter when it got B, but Upbit rating remained at BB after falling one ladder from the BBB in the second quarter last year.
CoinOne got the rating for the first time since its opening.
In the global security rating the Crypto Exchange Ranks (CEO) announced last week, Upbit ranked 14th, the highest ranking available for the Korean exchanges. However, Bithumb ranked the 98th for its history of hacking attacks.
