Gopax Pauses Trading and Transfers Over Security Threat

Gopax, a South Korean cryptocurrency exchange, paused trading and customer transfers after confronting what the outlets described as a hacking threat. Cryptopolitan reported that the action covered all user trades and transfers, while Crypto.news and Cointelegraph gave the halt a broader operational description that included deposits and standard withdrawals. The exchange did not simply announce a routine maintenance window: withdrawals require an exceptional, manual process during the suspension. The immediate response centered on safeguarding assets already held by the exchange. Cryptopolitan said Gopax initiated the temporary halt so it could move 100% of customer tokens in its custody into offline storage. Crypto.news likewise connected the suspension to a transfer into cold storage, and Cointelegraph reported the security concern and the support-based withdrawal option. Neither of those outlets supplied a percentage for the asset movement, making Cryptopolitan the source for the full-custody figure. All three outlets therefore corroborate the central facts: trading stopped, deposit and withdrawal functions were curtailed, and users were directed toward support for manual withdrawals. Their emphasis differs slightly. Cryptopolitan highlighted the suspension’s scope and the offline-storage operation, while Crypto.news and Cointelegraph framed the episode around the hacking threat and the restricted withdrawal channel. No supplied report identifies the specific systems compromised, says that customer funds were lost, or claims that the threat was carried through successfully.

The ownership context is significant but rests on a single outlet in this coverage group. Cryptopolitan identified Gopax as the South Korean exchange in which Binance holds a majority stake. The other two reports confirm the suspension and its operational effects but do not provide ownership details, and the supplied material does not indicate that the threat affected Binance’s wider platform or that the exchange itself took part in Gopax’s response.

The broader market remained comparatively subdued while the exchange managed the incident. Total crypto market capitalization stood at $2.62 trillion, with the overall market described as flat. Bitcoin was down 0.34% over 24 hours, while the Fear & Greed index registered 28, placing sentiment in the “Fear” range. No specific asset connected with Gopax was named in the market data, so the incident cannot be tied to a measured price move in a particular token.

For users, the practical issue is access to funds while normal trading and withdrawal functions are disabled. The manual-withdrawal channel offered through support is therefore the principal mechanism identified by Crypto.news and Cointelegraph for account holders who need to withdraw during the halt. The next operational markers are whether Gopax confirms the completion of its offline-storage transfer, provides a timeline for restoring standard services and explains what caused the hacking threat. Those are the reported conditions to monitor; the supplied coverage does not establish when or how normal trading will resume.