Reserve funds of the top 5 KRW exchanges approach ₩263.3 billion
Summary
- It was reported that the reserve funds of the top 5 Korean won-based virtual asset exchanges totaled ₩263.3 billion.
- It was found that all major exchanges—including Bithumb, Upbit, Coinone, Korbit, and GOPAX—meet the legal requirements.
- It was confirmed that a significant portion of deposited assets are kept in cold wallets to enhance security.
It was found that the reserve funds of the top 5 South Korean won-based virtual asset (cryptocurrency) exchanges exceed ₩260 billion.
According to data from Heo Young of the Democratic Party of Korea on the 30th, as of June this year, the reserve funds of five major exchanges—Upbit, Bithumb, Coinone, Korbit, and GOPAX—amounted to ₩263.3 billion.
The exchange holding the largest amount of KRW reserves is Bithumb, with ₩150.1 billion accrued, and 90.6% of its deposited assets are stored in cold wallets.
In Upbit's case, ₩4.2 billion has been set aside, with a cold wallet storage ratio of 98.3%. Coinone has ₩30 billion and 83.1%, Korbit ₩16 billion and 82.3%, with all meeting statutory standards. GOPAX has substituted reserve funds by purchasing liability insurance, and its cold wallet storage ratio is 101.2%.
YM Lee
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