South Korea allows crypto exchanges to suspend withdrawals when hacker attacks are suspected
2026-11-12 14:49:06
According to CoinMeta, the Financial Services Commission of South Korea (FSC) announced that cryptocurrency exchanges are allowed to temporarily block deposits and withdrawals in order to prevent potential hacker attacks. This decision was made after a security conference held in Seoul, with the aim of allowing exchanges to take preventive measures before confirming security vulnerabilities. Under the current Virtual Asset User Protection Act, exchanges are not permitted to restrict customers' deposits and withdrawals without legal reasons. FSC stated that rapid intervention can prevent further losses, and it was decided to issue a letter permitting exchanges to suspend transactions in cases of suspected hacking or unauthorized access.
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Source:Cryptonews
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