Binance’s $6.3 Billion Hack Has South Korea Asking Exchanges to Hold More Crypto Offline
Photo: Unchained
At an emergency meeting on Nov. 2, South Korea’s Financial Services Commission asked major crypto exchanges to move more customer assets into cold wallets , the regulator said , after Binance lost roughly $6.3 billion from its hot wallets. Alongside more offline storage, the FSC asked operators to keep constant watch on deposits and withdrawals, add incident-response staff, move quickly to report and pass along abnormal access attempts, and build up extra reserves. The release named no Korean exchange and set no new ratio.
Source: Unchained
