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FSC Summons Crypto Exchanges After Binance Hack
South Korea's financial authorities have urgently summoned domestic cryptocurrency exchanges following the hacking incident at Binance, the world's largest cryptocurrency exchange, which involved losses of around eight trillion won, KBS World reports. The move comes as the FBI has blamed North Korean hackers for the more than six billion dollar heist, and U.S. President Donald Trump has said Washington is verifying North Korean involvement and would talk to North Korea if it is found to be behind the theft. Binance has said it would resume withdrawals in phases after covering 95 percent of the $6.3 billion in tokens stolen, according to the Korea Times. Korean media coverage has focused on the global ripple effect of the hack, with Business Korea noting a massive ripple effect spreading across the global cryptocurrency market and domestic and foreign exchanges.
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