[South Korea's New Regulatory Rules Require Crypto Exchanges to Verify Asset Holdings Every 5 Minutes] BlockBeats News, April 7, according to a report by Cointelegraph, the South Korean Financial Services Commission (FSC) announced on April 7 that after discovering internal control vulnerabilities in several major trading platforms, it has ordered all cryptocurrency exchanges to reconcile their internal ledgers with actual asset holdings every 5 minutes. This regulation was triggered by an abnormal payment incident at Bithumb. In February this year, Bithumb mistakenly distributed 620,000 bitcoins to 249 users during a promotional event, recovering 99.7% of the funds on the same day, with the remaining 0.3% (1,788 BTC) covered by the company's reserve funds. An investigation revealed that three out of South Korea's five major exchanges only reconcile their accounts once every 24 hours, limiting their ability to respond quickly to discrepancies. Additionally, the exchanges' systems for suspending transactions in the event of significant account mismatches were found to be inadequate.