#韩国拟准交易所疑遭黑客停充提
Guys, South Korea’s Financial Services Commission opened the door to a new rule today: if an exchange merely suspects it’s been hacked, it can suspend deposits and withdrawals immediately, without waiting for confirmation.
Before, exchanges had to wait until a hacker attack was confirmed before suspending them. By then, the coins were already gone. Prabang’s hot wallet was drained last month, and Gopax also suspended withdrawals a few days ago. Regulators were forced into this.
Users’ money is safer now, but I’m seeing the other side of it.
The exchange gets to decide what counts as “suspected hacking.” From now on, whenever the market gets volatile, you might want to withdraw your coins, but the exchange can say it suspects an attack—and there’s nothing you can do.
The kimchi premium is sustained entirely by arbitrage. If deposits and withdrawals can be suspended at any time, Korean prices will only drift further away from prices elsewhere.
XRP, Koreans’ favorite, is now at 1.043. My bearish view from last night hasn’t changed; it’s edged down a little further.
I’ll let you guys know as soon as the detailed rules are finalized.
Guys, South Korea’s Financial Services Commission opened the door to a new rule today: if an exchange merely suspects it’s been hacked, it can suspend deposits and withdrawals immediately, without waiting for confirmation.
Before, exchanges had to wait until a hacker attack was confirmed before suspending them. By then, the coins were already gone. Prabang’s hot wallet was drained last month, and Gopax also suspended withdrawals a few days ago. Regulators were forced into this.
Users’ money is safer now, but I’m seeing the other side of it.
The exchange gets to decide what counts as “suspected hacking.” From now on, whenever the market gets volatile, you might want to withdraw your coins, but the exchange can say it suspects an attack—and there’s nothing you can do.
The kimchi premium is sustained entirely by arbitrage. If deposits and withdrawals can be suspended at any time, Korean prices will only drift further away from prices elsewhere.
XRP, Koreans’ favorite, is now at 1.043. My bearish view from last night hasn’t changed; it’s edged down a little further.
I’ll let you guys know as soon as the detailed rules are finalized.
