South Korean cryptocurrency exchange Gopax temporarily suspended trading, deposits and withdrawals on Nov. 6 after receiving threats of a potential hacking attack. Deposits and withdrawals were halted at 2:55 p.m. local time, followed by trading at 3:53 p.m. Gopax plans to transfer customer-held digital assets to offline cold wallets to reduce exposure to cyberattacks. Withdrawal requests are still being accepted through its customer service center, although manual review and approval may take longer than usual. These measures follow several security incidents in South Korea’s cryptocurrency and financial sectors, including the theft of approximately 100 million won in digital assets from Pravang and a data breach at Bithumb affecting 6,444 customers and 715 employees. Binance also reported approximately $6.3 billion in damages following a hacking incident on Oct. 29 and holds about 67% of Gopax’s shares.
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