South Korean crypto exchange Gopax suspends trading, deposits, and withdrawals, stating it will move all customer assets to cold wallets as per regulatory recommendations.

November 6 - According to Digital Asset, South Korean crypto trading platform Gopax announced that it has temporarily suspended trading and deposit/withdrawal services in order to transfer all user assets to cold wallets. Gopax stated that this move is a preemptive measure taken in accordance with financial authorities' recommendations to protect user assets and strengthen security, and mentioned it is related to recent consecutive information leakage and hacking incidents at financial companies.

The report stated that Gopax suspended digital asset deposits and withdrawals starting at 2:55 PM that day, and suspended trading services starting at 3:53 PM, with all previously placed unexecuted orders cancelled. The general withdrawal function on the website and App has also been closed; users can still apply for withdrawals separately through customer service email, which will be processed manually on a case-by-case basis after internal verification and approval, and may take longer than usual. Gopax stated that this measure aims to prevent financial accidents and protect user assets, but did not announce a timetable for service restoration.