According to a bill drafted by the Financial Services Commission, South Korea's financial regulator plans to fine cryptocurrency exchanges that have been hacked up to 10% of their losses. Currently, the maximum fine is only $456,000. If the bill passes, Upbit, which suffered a $36 million loss last November, could face a maximum fine of $3.6 million. In addition, another government proposal is considering a fine of 3% of annual revenue. Data shows that between January 2023 and September 2025, Upbit, Bithumb, Coinone, Korbit, and GOPAX experienced a total of 20 security incidents involving customer funds.
South Korea plans to fine cryptocurrency exchanges that have been hacked up to 10% of their losses.
2026-01-06 15:58:21
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