(LEAD) GOPAX suspends withdrawals, trading following hacking threats

South Korean cryptocurrency exchange GOPAX has suspended withdrawals and trading due to hacking threats, according to a statement released on Friday. The exchange halted withdrawals at 2:55 p.m. and transferred most of its assets from hot wallets to cold wallets, which are not connected to the internet. Trading was suspended around 3:53 p.m. GOPAX stated that they had not yet confirmed the credibility of the hacking threat but took precautionary measures to protect customers' assets.

No actual loss of assets has been reported. Deposits of virtual assets were temporarily suspended, while regular withdrawals through GOPAX's website and mobile app were disabled. All outstanding orders were canceled following the trading suspension. A company official declined to comment further, stating that they were prioritizing the protection of customers' assets, even if it caused inconvenience to users.

The South Korean financial sector has recently faced a series of cybersecurity incidents, with the Financial Services Commission reporting that 37 financial institutions had confirmed cybersecurity breaches, affecting approximately 470,000 customer records.