South Korea Orders Exchanges to Strengthen Wallet Security
The requests expand scrutiny from cold storage to transfer monitoring, access controls and financial buffers, while leaving implementation and any new threshold unspecified.
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The requests expand scrutiny from cold storage to transfer monitoring, access controls and financial buffers, while leaving implementation and any new threshold unspecified.
Bybit’s move toward an in-house hardware wallet highlights the cost and complexity of reducing reliance on third parties, while putting staff security in the threat model.
A higher reserve threshold could strengthen customer-asset safeguards, but exchange operators warn it may slow withdrawals and weigh more heavily on smaller platforms.
A proposal to move nearly all customer assets offline would impose a sweeping custody standard on South Korean crypto exchanges.
The crypto-law push makes private-key control, rather than exchange custody, the key adoption question for Russian users.