[South Korea's Financial Services Commission Urgently Convenes Crypto Exchanges for Security Inspection, Requires 80% Cold Wallet Storage] Odaily reports that South Korea's Financial Services Commission (FSC) urgently convened a security inspection meeting on the morning of November 2nd with representatives from exchanges such as Upbit, Bithumb, and Coinone. The meeting focused on examining the platforms' preparedness for large-scale hacker attacks and their user asset protection systems. Held ahead of a scheduled security inspection meeting for the entire financial industry on November 5th, the meeting aimed to understand the South Korean crypto industry's response to the recent large-scale asset theft at Binance and discuss solutions such as increasing the proportion of user assets stored in cold wallets. Under South Korea's current Virtual Asset User Protection Act, exchanges must store at least 80% of users' virtual assets in cold wallets isolated from the internet. Upbit's cold wallet storage ratio exceeds 99%, Bithumb's is approximately 94%, Coinone's is approximately 85%, while Digital X and Gopax are just over 80%.