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

BlockBeats news, 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 information leaks and hacking incidents at financial companies.

The report said Gopax suspended digital asset deposits and withdrawals from 2:55 PM that day, and suspended trading services from 3:53 PM, with all previously placed unfilled orders canceled. 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 one by one after internal verification and approval, and may take longer than usual. Gopax said this measure aims to prevent financial accidents and protect user assets, but did not announce a timetable for service restoration.