South Korea summons crypto exchanges after $6.4B Binance hack

South Korea’s Financial Services Commission (FSC) called in the country’s largest crypto exchanges on Monday to inspect their defenses after about $6.4 billion was drained from Binance. The FBI has blamed the Binance hack on North Korea. South Korea’s Financial Services Commission has called several similar meetings this year. Why did the FSC meet with crypto exchanges? Following the Binance hack that resulted in about $6.4 billion being drained, South Korea’s Financial Services Commission (FSC) brought in working-level staff from five won-based exchanges , including Upbit, Bithumb, Coinone, DigitalX and Gopax, plus coin-market venues such as Foblgate, at 10 a.m. Monday. One or two people attended from each firm. The meeting came before a planned security check across the whole financial sector set for Wednesday.

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