Major South Korean crypto exchanges issued warnings on November 6 after GOPAX suspended parts of its service following a security threat. Upbit, Bithumb and DigitalX each told users to be careful when sending assets to GOPAX, and all indicated they could limit withdrawals to the platform if conditions require it.
The notices came after GOPAX said it had received a threatening email warning of a possible hack. In response, the exchange said it halted withdrawals in advance and moved most assets from its hot wallet to a cold wallet as an emergency measure to protect user funds.
Exchanges flag transfer risk
Upbit said GOPAX had temporarily stopped cryptocurrency deposit, withdrawal and trading services and that it was watching developments. The exchange added that it may restrict cryptocurrency withdrawals to GOPAX if that becomes necessary to protect users.
DigitalX released a similar warning on the same day. It also pointed to GOPAX’s suspension of deposit, withdrawal and trading functions and said transfers to GOPAX could be restricted depending on how the situation unfolds, with any change to be announced separately.
Bithumb issues a narrower notice
Bithumb’s alert focused on deposits to GOPAX. It said GOPAX had temporarily suspended cryptocurrency deposit services starting at 2:55 p.m. on November 6, and warned that assets sent to GOPAX might not be credited properly during the disruption.
Like the other exchanges, Bithumb also said it could restrict withdrawals to GOPAX if needed in order to protect customer assets.
GOPAX cites threatening email
Before the rival exchanges published their notices, GOPAX said it had received an email threatening a hack. The company described its response as a precautionary step rather than confirmation of an actual breach.
According to GOPAX, it preemptively suspended withdrawals and carried out emergency protections that included transferring most assets from a hot wallet to a cold wallet. The stated purpose of those measures was to reduce risk to user assets while the situation was being handled.
What is confirmed next
As of the warnings issued on November 6, the confirmed facts were limited to GOPAX’s service suspension, the reported threat email and the precautionary actions announced by the exchange and its peers. No further outcome was confirmed in the source material.
For now, the clearest next step is whether Upbit, Bithumb or DigitalX move from warnings to actual restrictions on withdrawals to GOPAX. Each exchange said additional notice would be provided if its policy changes.
Source: en.bloomingbit.io