South Korea orders massive crypto wallet lockdown following the Binance hack

South Korea's Financial Services Commission has asked domestic crypto exchanges to keep a larger share of customer assets offline and strengthen their response to suspicious activity after the Binance hack. The FSC urged operators to increase the proportion held in cold wallets, continuously monitor deposits and withdrawals, secure additional response staff, promptly report and share abnormal access attempts, and build additional reserves. Together, the requests address how exchanges hold customer crypto, monitor transfers, respond to suspicious access, and maintain financial protection against incidents. The regulator's Nov.