Binance-Controlled Korean Exchange GOPAX Stops Trading, Makes Users Email to Withdraw Crypto
By Unchained
AI summary of the source article
Binance-controlled South Korean exchange GOPAX suspended trading and crypto deposits to move all coins into cold wallets. Customers must submit withdrawal requests via email for manual processing.
Why it matters
Emptying online funds shows "what that level costs customers: with nothing left in hot wallets, no withdrawal goes out until a staff member approves it."
Key facts
- GOPAX halted trading and crypto deposits, requiring users to request withdrawals by email for manual staff approval.
- The exchange cited recommendations from financial authorities and preemptive measures following hacks and data leaks across financial firms.
- South Korean regulations require at least 80% of customer crypto to be kept offline; Streami held 80.54% offline as of September 30.
Source excerpt · Unchained
GOPAX cited a recommendation from financial authorities, gave no date for reopening, and now handles crypto withdrawals only through emailed requests to its support desk. The post Binance-Controlled Korean Exchange GOPAX Stops Trading, Makes Users Email to Withdraw Crypto appeared first on Unchained .