South Korea’s GOPAX Suspends Trading and Withdrawals…
By Abdelaziz Fathi
AI summary of the source article
South Korean cryptocurrency exchange GOPAX suspended deposits, standard withdrawals, and trading on November 6 following an email threatening a hacking attack. The platform initiated the shutdown as a precautionary measure to transfer crypto holdings into offline cold storage.
Why it matters
The text notes that "the shutdown demonstrates how an unverified security threat can interrupt exchange operations and restrict access to funds."
Key facts
- GOPAX halted trading, deposits, and standard withdrawals on November 6 after receiving a threatening email from an alleged hacker.
- The exchange confirmed no intrusion or theft had occurred and began moving assets from online hot wallets to cold wallets.
- South Korea requires crypto exchanges to maintain at least 80% of customer assets in offline storage, with GOPAX holding 80.54% at the end of September.
Source excerpt · FinanceFeeds
South Korean cryptocurrency exchange GOPAX suspended deposits, standard withdrawals and trading on November 6 after receiving an email threatening a potential hacking attack. The exchange said no intrusion or attempted theft had been identified, describing the shutdown as a precautionary measure to protect customer assets while it transfers cryptocurrency holdings into offline storage. GOPAX halte…