The Personal Information Protection Commission (PIPC) has prepared its first guidelines containing personal information processing standards for blockchain-based services. According to Yonhap News, these guidelines were prepared as the need arose during the PIPC's recent deliberation of Bithumb's violation of regulations on the overseas transfer of personal information. The PIPC advised against recording personally identifiable information, such as resident registration numbers, on-chain, and stated that off-chain personal information corresponding to on-chain information must be protected through security measures such as encryption. This is because even if individuals cannot be identified by on-chain information alone, there is a risk that transaction histories could be traced when combined with off-chain information. Lee Jae-hyung, director of the PIPC's Investigation and Adjustment Bureau, said, "If random number values used in the electronic signature process are repeated, attacks that estimate and steal private keys by analyzing the pattern of the resulting values may become possible." He added, "As there have been actual cases like this, it is important not to reuse random number values."
