Bank of Korea Weighs How Its Banks Would Weather a Crypto Exchange Hack

The Bank of Korea has asked 31 South Korean financial firms how they would be affected if the crypto exchange with the No. 1 market share in the country had to halt operations temporarily after a major hack, in what The Herald Business describes as the central bank’s first look at how lenders and brokers are moving into crypto. The BOK sent the request on Oct. 23 to 18 banks , among them KB Kookmin, Shinhan, Hana, Woori and NH NongHyup, and to 13 securities firms , Yonhap reported , citing the central bank and the crypto industry. The firms have until Nov. 4 to respond, according to Yonhap. The BOK has not published anything about the survey.

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