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South Korea orders massive crypto wallet lockdown following the Binance hack

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South Korea weighs raising exchange cold wallet requirement to 99% after Binance hack

South Korea's Financial Services Commission is considering lifting the offline storage floor from 80% to approximately 99% for crypto exchanges. The FSC also asked 18 banks and 13 brokerages how they would fare if the top crypto exchange halted after a major hack.

Nov 3, 2026·4 sourcesCrypto exchange regulationCrypto custodyCrypto securityCrypto hacksBinance hot-wallet breachCrypto exchangesHot wallet compromiseCrypto regulation
South Korea weighs raising exchange cold wallet requirement to 99% after Binance hack
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Other sources for this story

Unchained

Binance's $6.3 Billion Hack Has South Korea Asking Exchanges to Hold More Crypto Offline - Unchained

U.Today

99% Cold Wallet Rule Mulled by South Korea Following Binance Hack - U.Today

Crypto Briefing

South Korea's FSC weighs raising exchange cold wallet requirement to about 99%