[Quickly Freezing Withdrawals Helps Reduce Losses; South Korea Plans to Allow Exchanges to Suspend Deposits and Withdrawals During Suspected Hacks] Odaily Planet Daily reports that Bitcoin News, in an article published on the X platform, stated that the South Korean Financial Services Commission (FSC) said the Binance hack proved that quickly freezing withdrawals helps reduce losses. The commission will issue a no-action letter allowing exchanges to suspend deposits and withdrawals in the event of a suspected hack; current law only allows freezing related operations after a hack is confirmed, and specific applicable conditions have not yet been announced. The FSC also requires exchanges to implement 24/7 monitoring, store users' cryptocurrencies in cold wallets as much as possible, and increase insurance and reserves. Exchanges unable to monitor 24/7 may only be able to process withdrawals when staff are on duty.