{"id":687235,"date":"2026-11-12T06:53:22","date_gmt":"2026-11-12T06:53:22","guid":{"rendered":"https:\/\/e-bitco.in\/index.php\/2026\/11\/12\/south-korea-to-permit-crypto-withdrawal-freezes-during-hacking-threats\/"},"modified":"2026-11-12T06:53:22","modified_gmt":"2026-11-12T06:53:22","slug":"south-korea-to-permit-crypto-withdrawal-freezes-during-hacking-threats","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2026\/11\/12\/south-korea-to-permit-crypto-withdrawal-freezes-during-hacking-threats\/","title":{"rendered":"South Korea to permit crypto withdrawal freezes during hacking threats"},"content":{"rendered":"

\"South<\/p>\n

The move follows recent security incidents involving South Korean crypto exchanges, including GOPAX\u2019s precautionary suspension of services and a $70,000 hot-wallet breach at Prabang.<\/p>\n

South Korea\u2019s Financial Services Commission (FSC) plans to allow crypto exchanges to suspend deposits and withdrawals when hacking is suspected, rather than waiting until a breach is confirmed, amid a push for stronger industry security.<\/p>\n

On Thursday, the FSC said<\/a> it would issue a no-action letter permitting preventive suspensions under certain conditions. Current rules prohibit exchanges from blocking withdrawals without legitimate grounds and explicitly allow restrictions only when a hacking incident is clearly established.<\/p>\n

The regulator also called for round-the-clock monitoring and incident response, higher cold-wallet holdings, and stronger insurance coverage and reserves. The FSC said exchanges unable to monitor continuously would process deposits and withdrawals only during staffed hours and notify users in advance.<\/p>\n

Read more<\/a><\/p>","protected":false},"excerpt":{"rendered":"

The move follows recent security incidents involving South Korean crypto exchanges, including GOPAX\u2019s precautionary suspension of services and a $70,000 hot-wallet breach at Prabang. South Korea\u2019s Financial Services Commission (FSC) plans to allow crypto exchanges to suspend deposits and withdrawals when hacking is suspected, rather than waiting until a breach is confirmed, amid a push […]<\/p>\n","protected":false},"author":1,"featured_media":687236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":{"0":"post-687235","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-blockchain"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/687235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=687235"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/687235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/687236"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=687235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=687235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=687235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}