# GOPAX halts trading Quick Take · News · Published November 6, 2026 · By [Anthony Asuaje](https://walkeranthony.com/about/), Walker Strategies Canonical URL: https://walkeranthony.com/news/gopax-halts-trading/ South Korean crypto exchange GOPAX suspended trading, deposits, and standard withdrawals due to a hacking threat. The exchange plans to transfer all crypto assets to offline wallets to protect users. This move comes after the Financial Services Commission urged domestic exchanges to increase cold-wallet holdings following a recent major hack. South Korean crypto exchange GOPAX suspended trading, deposits, and standard withdrawals on Friday after receiving an email threatening a hack. A GOPAX representative confirmed that no hack or attempted theft had occurred at that point. The exchange halted deposits and standard withdrawals at 5:55 am UTC and stopped trading at 6:53 UTC, canceling all unfilled orders. GOPAX plans to transfer all crypto assets to offline wallets to protect users, citing financial regulators' recommendations. Customers can still request withdrawals through the exchange's support center, but manual verification and approvals may delay processing. The suspension comes after the Financial Services Commission urged domestic exchanges to increase cold-wallet holdings following the $6.3 billion Binance hack. South Korean exchanges must keep at least 80% of customer crypto assets in cold storage. GOPAX held 80.54% of user assets offline at the end of September. The move also follows a series of cybersecurity incidents affecting financial institutions in South Korea, including a recent incident involving crypto exchange Prabang, which suspended services after detecting abnormal withdrawals from its hot wallet. Source: [cointelegraph.com](https://cointelegraph.com/news/gopax-halts-crypto-trading-withdrawals-cold-storage) --- Educational and informational content only. I am not a licensed financial advisor and nothing here is investment advice. Do your own research before making any decision.