---
title: "South Korea mulls raising cold wallet requirement to 99% after Binance hack"
url: https://thecoingazette.com/south-korea-mulls-raising-cold-wallet-requirement-to-99-after-binance-hack/
date: 2026-11-03
modified: 2026-11-03
lang: en
author: "Coin Gazette Editorial"
description: "According to News1, South Korea’s Financial Services Commission is considering raising the minimum c..."
categories:
  - "Crypto News"
tags:
  - "crypto"
  - "cryptocurrencies"
  - "Defi"
  - "Market Trends"
  - "News"
image: https://i0.wp.com/thecoingazette.com/wp-content/uploads/2026/05/logo-with-slogan-1.webp?w=1400&fit=1400,960&ssl=1
word_count: 78
---

# South Korea mulls raising cold wallet requirement to 99% after Binance hack

According to News1, South Korea’s Financial Services Commission is considering raising the minimum cold wallet storage requirement for crypto exchanges from 80% to around 99% following the recent Binance hack. Upbit reportedly holds over 99% of customer assets in cold wallets, compared with roughly 94% at Bithumb and 85% at Coinone. Industry participants warn that stricter requirements could delay withdrawals and increase operational burdens, particularly for smaller exchanges. The proposal remains under discussion and has not been adopted.