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South Korean exchange GOPAX halts withdrawals after hacking threats

GOPAX, a South Korean crypto exchange, stopped withdrawals as a precaution after hacking threats. It reports no loss of assets so far.

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Photo: Takipoint123, CC BY-SA 4.0, via Wikimedia Commons

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GOPAX, a South Korean cryptocurrency exchange, announced Friday that it stopped withdrawals as an emergency measure. The step came after hackers threatened the platform. According to the exchange, withdrawals were halted at 2:55 p.m.

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It is moving most of the assets in its hot wallets to cold wallets. Hot wallets are connected to the internet. Cold wallets are not, which makes them harder to attack.

In numbers

  • 2:55 p.m.Withdrawals halted

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GOPAX described the step as a precaution and said no actual loss of assets had been reported. Separately, Malaysia's Teo Nie Ching urged government agencies to carry out cybersecurity audits amid rising hacking threats.

Who is who

  • Teo Nie ChingMalaysian official urging cybersecurity audits
Where
South Korea
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Section
Crypto

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
Photo: Takipoint123, CC BY-SA 4.0, via Wikimedia Commons

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