COINTELEGRAPH · 2026-11-03 01:32 UTC

South Korea urges exchanges to boost cold storage after Binance hack

South Korea's Financial Services Commission urged domestic crypto exchanges to increase cold storage holdings following the $6.3 billion Binance hack last week. The FSC reviewed exchanges' security measures including IT access controls, wallet procedures, and administrator privileges, and urged providers to boost offline cold wallet proportions. South Korean law already requires exchanges to hold at least 80% of user assets in cold storage; major exchanges currently report ratios ranging from 80.54% to 99.17%.

Loading the story on Tree News…