COINDESK · 2026-11-03 14:42 UTC

South Korea asks its biggest banks how a major crypto hack would hit them

South Korea's central bank surveyed 18 banks and 13 securities firms on Oct. 23 about potential impacts if the country's largest crypto exchange suffered a major hack and shut down. The survey also asks about scenarios including sharp crypto price falls, prolonged trading slumps, and heavy losses at other financial institutions, following Binance's $6.4 billion hack. Banks already hold customer deposits from crypto exchanges under 2024 protection rules and are expanding crypto lending; the BOK does not currently see financial stability risks but seeks better visibility into firms' crypto…

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