Original report: November 12, 2026, 14:05 (UTC+8). South Korea’s Financial Services Commission (FSC) plans to let cryptocurrency exchanges suspend deposits and withdrawals when they suspect a hack, without waiting for an attack to be confirmed. The FSC said it would issue a no-action letter permitting such precautionary pauses under specified conditions. The measure was a plan at the time of the report, not an enacted rule.
The FSC also called for round-the-clock monitoring and incident response, a higher proportion of assets held in cold wallets, and stronger insurance coverage and reserves. Exchanges unable to monitor continuously would be allowed to process deposits and withdrawals only while staff are on duty, with advance notice to users. The report does not specify what those reserves would cover or establish that they would meet all customer liabilities.
The source describes GOPAX suspending trading, deposits and routine withdrawals on a Friday after receiving a hacking threat; a representative said no security breach had occurred. It also says trading platform Prabang suspended services after detecting abnormal hot-wallet withdrawals on October 24 and reported losses of about $70,000. The FSC found cybersecurity deficiencies at 130 of 555 financial firms it inspected in October and included GOPAX operator Streami and Prabang among 16 companies associated with earlier security incidents.