South Korea allows the freezing of cryptocurrency withdrawals under suspicion of hacking
2026-11-12 14:05:44
According to CoinMeta, the Financial Services Commission of South Korea plans to allow crypto exchanges to suspend deposits and withdrawals in cases of suspected hacker attacks, rather than waiting until a data breach is confirmed before taking action. This decision was made following recent security incidents at South Korean crypto exchanges, including Gopax suspending services and Prabang experiencing a loss of $70,000 due to a hot wallet attack. FSC stated that letters will be issued under specific conditions to allow for preventive suspensions. Current regulations prohibit exchanges from preventing withdrawals without justifiable reasons, and restrictions are only permitted after a hacker attack is confirmed.
Source:Cointelegraph
This content is for market information only and does not constitute investment advice.
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