South Korea’s GOPAX halts crypto trading, withdrawals after hacking threat

South Korean cryptocurrency exchange GOPAX has suspended trading, deposits and standard withdrawals after receiving a hacking threat, prompting the company to move customer assets into offline wallets as a precaution. Summary GOPAX suspended cryptocurrency trading, deposits and standard withdrawals after receiving an email threatening a cyberattack. The exchange said no hacking attempt or cryptocurrency theft had been detected when services stopped. Customers can still request withdrawals through support, but manual verification may delay processing of funds. GOPAX held 80.54% of customer crypto assets offline in September, slightly above South Korea’s minimum. According to GOPAX’s official notices, the exchange stopped deposits and standard withdrawals at 2:55 p.m. local time (5:55 a.m. UTC) on November 6. Trading services were suspended at 3:53 p.m. (6:53 a.m. UTC), with the exchange canceling all outstanding orders. The company said it would transfer its cryptocurrency holdings to cold wallets, which operate without a direct internet connection. Customers can still request withdrawals through the support center, although each request requires manual checks and approval before pr...