South Korea’s Financial Services Commission urged domestic cryptocurrency exchanges to tighten security and hold more customer assets in cold wallets after a reported Oct. 30 breach of Binance hot wallets. Hackers reportedly stole about $6.3 billion in digital assets; preliminary assessments suggest they gained access through an employee’s work laptop.
The FSC urged exchanges to exceed the existing requirement to keep at least 80% of customer digital assets in cold wallets. It also called for real-time monitoring of suspicious transfers, more emergency response staff and faster reporting channels. Officials reviewed exchange access controls and withdrawal checks, and said they would coordinate with domestic exchanges and international regulators.
