South Korea
Block Media
At Korean Crypto Exchanges Holding 80 Trillion Won, Incident Reserves Vary Wildly — Up to a 27-Fold Gap
- Customer assets parked at South Korean digital asset exchanges have surpassed 80 trillion won ($58 billion-plus), but hacking/system-failure reserve funds differ by up to 27 times between exchanges.
- Cold-wallet storage ratios also vary significantly across exchanges, raising concerns about inconsistent user-asset protection levels.
- The findings were released on October 26 by Rep. Min Byung-dok (Democratic Party of Korea), a member of the National Assembly's National Policy Committee, based on data obtained from the Financial Supervisory Service (FSS).