Freeze first, confirm later. South Korea gives crypto exchanges the green light to freeze withdrawals once a hack is suspected "South Korea just changed when exchanges can freeze…
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Freeze first, confirm later. South Korea gives crypto exchanges the green light to freeze withdrawals once a hack is suspected "South Korea just changed when exchanges can freeze your crypto. The la…
Freeze first, confirm later. South Korea gives crypto exchanges the green light to freeze withdrawals once a hack is suspected "South Korea just changed when exchanges can freeze your crypto. The law used to be that there had to be a confirmed hack before an exchange could freeze deposits and withdrawals." "Now with the no-action letter, the FSC is saying they will not prosecute or punish an exchange for freezing transactions before the hack is confirmed." "If you're a hardcore crypto libertarian and you don't believe in centralization, you would say you're going to end up freezing a whole bunch of legitimate transactions." "If your transaction gets frozen for 3 or 4 extra hours while the exchange is making sure that you weren't hacked, that seems like a preventative measure that should be reasonable." "I'm gonna wonder if that's coming to exchanges all over the world. And you know that this is a direct reaction to what happened with Bybit and, of course, Binance more recently, and Bitget and others in between."
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