South Korea urges cryptocurrency exchanges to tighten security
South Korea's financial regulator on Monday urged local cryptocurrency exchanges to tighten security measures to prevent hacking attacks, after a $6.3 billion theft at Binance last week.The Financial Services Commission held an emergency meeting with local exchanges to inspect security measures.Authorities ordered various measures that could be implemented immediately, including constant transaction monitoring and operating response systems to detect and report irregular access attempts.Other measures include raising the ratio of cold wallets, which secure cryptocurrency private keys offline, and raising reserve deposits.