Bitcoin price: South Korea to permit crypto withdrawal freezes during hacking threats
South Korea's Financial Services Commission (FSC) intends to allow crypto exchanges to suspend deposits and withdrawals when hacking is suspected, not waiting until a breach is verified, against a backdrop of a push for more robust industry security. The FSC noted it would issue a…
In this article
In the latest Bitcoin price update, South Korea's Financial Services Commission (FSC) intends to allow crypto exchanges to suspend deposits and withdrawals when hacking is suspected, not waiting until a breach is verified, against a backdrop of a push for more robust industry security, according to Cointelegraph. The FSC noted it would issue a no-action letter permitting preventive suspensions under certain conditions on Thursday.
Key points
- On Oct. 24, trading platform Prabang suspended services following detecting abnormal hot-wallet withdrawals.
- The FSC identified cybersecurity deficiencies at 130 of 555 financial firms reviewed nationwide in October.
- It separately identified GOPAX operator Streami and Prabang among 16 firms involved in earlier security incidents.
- Crypto exchange GOPAX suspended trading, deposits and standard withdrawals after receiving a hacking threat.
- The move follows latest security incidents involving South Korean exchanges.
What happened: Bitcoin price
The move follows latest security incidents involving South Korean exchanges. Crypto exchange GOPAX suspended trading, deposits and standard withdrawals after receiving a hacking threat, even though a representative noted no breach had occurred on Friday. On Oct. 24, trading platform Prabang suspended services following detecting abnormal hot-wallet withdrawals, reporting roughly $70,000 in losses.
The FSC identified cybersecurity deficiencies at 130 of 555 financial firms reviewed nationwide in October. It separately identified GOPAX operator Streami and Prabang among 16 firms involved in earlier security incidents.
Why Bitcoin price matters for traders
Crypto markets trade around the clock and react quickly to regulation, ETF flows, liquidity conditions and broader risk sentiment. Moves in Bitcoin often set the tone for the rest of the digital-asset market.
Changes in interest-rate expectations and institutional flows have become major drivers of crypto prices, linking them more closely to traditional markets.
Market reaction and data
Crypto prices at the time of writing, from Binance spot data (2026-11-12 06:01 UTC):
| Asset | Last price (USDT) | 24h change | 24h high | 24h low |
|---|---|---|---|---|
| Bitcoin (BTC) | 73,626.47 | -0.42% | 74,811.45 | 73,390.13 |
| Ethereum (ETH) | 2,047.36 | -1.18% | 2,103.78 | 2,035.83 |
What to watch next for Bitcoin price
Watch for ETF flow data, regulatory news, large on-chain movements and shifts in overall risk appetite in stock markets.
Follow every update in our Top 10 Crypto News Today, read Bitcoin price: Bitcoin hovers near $74K as shares rise in spite of US bond yield rebound or see all of today's top market news.
FAQ
What is the latest Bitcoin price news?
South Korea's Financial Services Commission (FSC) intends to allow crypto exchanges to suspend deposits and withdrawals when hacking is suspected, not waiting until a breach is verified, against a backdrop of a push for more robust industry security.
What moves the price of Bitcoin?
Bitcoin reacts to institutional and ETF demand, regulation, liquidity and interest-rate expectations, as well as general risk sentiment in financial markets.
Where does this information come from?
This report is based on coverage from Cointelegraph, checked against market data where available. It is a summary for information only and not investment advice.
Risk warning: This article is for information only and is not investment advice. Trading forex, CFDs, stocks and crypto carries a high risk of losing money. Prices move fast – check live quotes before you trade.
