South Korea urges crypto exchanges to boost cold storage following Binance hack
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Following a $6.3 billion hack on Binance's hot wallets, South Korea's Financial Services Commission held an emergency meeting with regulatory and industry bodies to review exchange security, urging domestic providers to increase assets kept in offline cold wallets beyond the legally required 80% minimum. As of late September, major exchanges like Upbit, Bithumb, and Coinone maintained cold wallet ratios of 99.17%, 94.76%, and 85% respectively.
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