GOPAX suspends withdrawals following hacking threats

SEOUL, Nov. 6 (Yonhap) -- South Korean cryptocurrency exchange GOPAX said Friday it had suspended withdrawals as an emergency measure following hacking threats.

The exchange said it halted withdrawals at 2:55 p.m. and was transferring most of the assets held in its so-called hot wallets to cold wallets, which are not connected to the internet.

The precautionary measure was taken in response to hacking threats, and no actual loss of assets had been reported, GOPAX said.

The South Korean financial sector has recently been hit by a series of cybersecurity incidents.

The Financial Services Commission earlier said cybersecurity incidents had been confirmed at 37 financial institutions, affecting approximately 470,000 customer records.