Crypto Exchanges

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South Korea Orders Crypto Exchanges to Verify Asset Holdings Every 5 Minutes. One Exchange Error Made It Happen.

The FSC's emergency inspection found three of South Korea's five major platforms reconciling balances only once every 24 hours. The trigger: Bithumb crediting 620,000 BTC — roughly $56 billion — to 249 users instead of 620,000 Korean won. Regulators have now mandated five-minute reconciliation cycles, automatic kill switches, monthly external audits, and daily public disclosure of results. The deadline is May 2026.

By Ramy Morton

About Crypto Exchanges

Crypto exchanges act as the primary gateway to digital asset markets, enabling users to buy, sell, and trade cryptocurrencies in real time. These platforms provide access to liquidity, price discovery, and market execution, forming the backbone of the broader crypto ecosystem. As of 2026, they continue to evolve with improved infrastructure, risk controls, and integration with on-chain finance, shaping how capital flows across digital markets.