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The largest Korean cryptobirds have teamed up to monitor suspicious trading activity

South Korean cryptobirds Bithumb, Upbit, Corbit and Coinone agreed on joint monitoring of trading activity. Sites will exchange suspicious transaction data in real time.

In addition, the exchange will create a common database with cryptocurrency addresses that are used in scam projects, hacker attacks and other illegal activities.

"It is expected that the joint initiative to combat money laundering will lead to significant results, since all four exchanges currently use effective methods to protect users and detect fraud, " said representatives of one of the sites.

Previously, South Korean regulators discovered vulnerabilities in 14 local exchanges. The number of safe sites included only Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco and Huobi Korea.

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