[Wu Blockchain News] South Korea mulls raising cold wallet requirement to 99% after Binance hack Acc...
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South Korea’s Financial Services Commission is considering raising the minimum cold wallet storage requirement for crypto exchanges from 80% to around 99% following the recent Binance hack. Upbit reportedly holds over 99% of customer assets in cold wallets, compared with roughly 94% at Bithumb and 85% at Coinone. Industry participants warn that stricter requirements could delay withdrawals and increase operational burdens, particularly for smaller exchanges. The proposal remains under discussion and has not been adopted.
Muhabbit's AI wrote this summary in its own words from Telegram's report. It can get details wrong, so check the source.
Named in this story
South Korea Financial Services Commission, Binance, Upbit, Bithumb, Coinone