GOPAX Moves Customer Crypto Offline After Receiving Hack Threat

GOPAX temporarily halted deposits, standard withdrawals and trading after receiving an email that threatened a hack, according to Crypto Economy. The South Korean exchange said the measure was a precaution and reported that no breach or theft of assets had occurred. Despite the suspension, users could still request withdrawals through GOPAX’s support team, although those requests may take longer to process.

The exchange’s next step was to move customer crypto assets under its custody into offline storage. Cryptopolitan reported that the plan covered 100% of customer tokens held by GOPAX and that the exchange announced the action on Friday, November 6. Crypto.news and Cointelegraph also confirmed that assets were being transferred to cold storage as the trading, deposit and standard-withdrawal restrictions remained in place.

All four outlets corroborate the central sequence: a hacking threat prompted a temporary suspension of customer activity, and manual withdrawals were retained through GOPAX support. Crypto Economy, Crypto.news and Cointelegraph list the same three restricted functions—trading, deposits and standard withdrawals—while Cryptopolitan uses the broader description of all user trades and transfers. The accounts are consistent on the availability of support-assisted withdrawals.

GOPAX is described by Cryptopolitan as the South Korean exchange in which Binance holds a majority stake. That ownership detail appeared only in Cryptopolitan’s coverage, while Crypto Economy’s regulatory-oversight reference was truncated in the supplied summary and could not be assessed. Crypto Economy was also the only outlet to explicitly state that no system compromise or asset loss had been identified at the time of its report.

The broader crypto market was weak during the period covered by the report. Total market capitalization stood at $2.62 trillion, Bitcoin was down 4.70% over 24 hours, and the Fear & Greed index registered 28, placing sentiment in the “Fear” zone. No specific coin from the market-data list was named as being directly involved in GOPAX’s actions, so Bitcoin’s decline is broader market context rather than evidence of a GOPAX-related effect.

For account holders, the practical issue is access to funds while ordinary withdrawal processing is suspended. Cold storage and manual support requests are the two mechanisms described in the coverage, and Crypto Economy warned that manually handled withdrawals could face delays. The immediate operational indicators to monitor are whether customer assets complete their transfer to offline wallets, how quickly support resolves withdrawal requests and whether GOPAX restores the suspended trading, deposit and standard-withdrawal functions.