COINTELEGRAPH · 2026-11-12 05:55 UTC

South Korea to permit crypto withdrawal freezes during hacking threats

South Korea's Financial Services Commission plans to let crypto exchanges suspend deposits and withdrawals when hacking is suspected, instead of waiting for a confirmed breach. The FSC will issue a no-action letter allowing preventive suspensions under certain conditions, and has called for round-the-clock monitoring, higher cold-wallet holdings, and stronger insurance and reserves. The move follows GOPAX's suspension after a hacking threat, though no breach occurred, and Prabang's suspension after about $70,000 in losses from abnormal hot-wallet withdrawals.

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