[South Korea Plans to Allow Cryptocurrency Exchanges to Suspend Withdrawals Due to Suspected Hacking Attacks] Odaily reports that South Korea's Financial Services Commission (FSC) plans to allow cryptocurrency exchanges to suspend deposits and withdrawals when a suspected hacking attack occurs, without waiting for confirmation. The FSC stated on Thursday that it will issue a letter of non-enforcement, allowing exchanges to preventatively suspend related operations under specific conditions. The FSC also requires exchanges to implement 24/7 monitoring and incident response, increase the proportion of cold wallet holdings, and strengthen insurance protection and reserves. Exchanges unable to continuously monitor will only be allowed to process deposits and withdrawals when staff are on duty, and users will be notified in advance. South Korean cryptocurrency exchange GOPAX suspended trading, deposits, and regular withdrawals on Friday after receiving a hacking threat. Its representative stated that no security breach occurred. Trading platform Prabang suspended services on October 24 after discovering abnormal hot wallet withdrawals, reporting losses of approximately $70,000. In October, the FSC found cybersecurity vulnerabilities in 130 of the 555 financial institutions inspected nationwide, and added Streami, the operator of GOPAX, and Prabang to the list of 16 companies involved in previous security incidents. (Cointelegraph)