GOPAX suspends withdrawals following hacking threats

South Korean cryptocurrency exchange GOPAX has suspended withdrawals as a precautionary measure following hacking threats, according to The Korea Times. The exchange halted withdrawals at 2:55 p.m. and is transferring assets from its hot wallets to cold wallets, which are offline and not connected to the internet. No actual loss of assets has been reported.

This move comes amidst a series of cybersecurity incidents affecting financial institutions in South Korea, with the Financial Services Commission confirming hacking incidents at 37 institutions, impacting around 470,000 customer records.

Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.