SEOUL, Nov 6 (Reuters) – South Korean cryptocurrency exchange Gopax suspended withdrawals on Friday and was transferring most assets held in internet-connected “hot wallets” to offline storage as a precautionary measure to protect customer funds amid cybersecurity concerns. The exchange said the decision was a preemptive measure aimed at strengthening security and protecting customer assets, […]
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South Korean cryptoexchange Gopax suspends withdrawals amid hacking concerns
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SEOUL, Nov 6 (Reuters) – South Korean cryptocurrency exchange Gopax suspended withdrawals on Friday and was transferring most assets held in internet-connected “hot wallets” to offline storage as a precautionary measure to protect customer funds amid cybersecurity concerns.
The exchange said the decision was a preemptive measure aimed at strengthening security and protecting customer assets, in line with recommendations from South Korean financial regulators.
The move follows a series of recent data leaks and hacking incidents involving financial institutions, most notably the theft of $6.3 billion in cryptocurrency from the Binance exchange, a heist believed to have been carried out by North Korean hackers.
(Reporting by Heekyong Yang; Editing by Joe Bavier)