WirecompaniesBrief
South Korean Crypto Exchange Gopax Suspends Withdrawals and Trading After Hacking Threat
South Korea's Gopax halted standard withdrawals at 2:55 p.m. and trading at 3:53 p.m. Friday after a hacking-threat email, and is transferring all held assets to cold wallets with no loss reported so far.
Brief
South Korean exchange Gopax halted withdrawals and trading on Friday after receiving an email claiming a hacker could break into its systems. The firm said it is shifting all virtual assets it holds into offline storage as a precaution to guard customer money. According to Yonhap, citing the exchange, ordinary deposit and withdrawal functions stopped at 2:55 p.m. local time, and trading ended at 3:53 p.m. Withdrawals through the website and mobile app are unavailable, so customers must submit requests to the support center, where staff process them manually after internal checks. Chosun Biz reported that all open orders were canceled. Gopax has reported no actual asset loss, and a company official told Yonhap the threat had not been verified. No date has been set for reopening trading or regular withdrawals.
Why it matters: It shows how a security warning alone can freeze a Korean exchange's customer withdrawals and trading, at a time of heightened cybersecurity concern across the sector.
Read the full story
Mentioned in this story
Open a coin page for its current price.