South Korea’s Financial Services Commission asked domestic crypto exchanges to increase the share of customer assets kept offline following the October 30 Binance hack. It also called for continuous monitoring of deposits and withdrawals, additional incident-response staff, prompt reporting of abnormal access and larger financial reserves. The regulator made the requests during an emergency meeting on November 2 and clarified them the following day, without announcing a new numerical threshold or confirming implementation by individual exchange. A July 2024 rule already required 80% of the defined economic value of customer crypto to be held in cold wallets, based on quantities and average won conversion values over the preceding year.
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