Upbit cold wallet 99.17%… calculation criteria differ by exchange

Upbit disclosed that 99.17% of its assets were held in cold wallets as of the end of September, with just 0.83% in hot wallets, a figure also included in materials submitted to South Korea's Financial Supervisory Service. A Dunamu spokesperson said the exchange aims to keep hot-wallet holdings below 1% of customer digital assets. At the same period, other Korean won-denominated exchanges reported lower cold-wallet shares: Bithumb at 94.76%, Coinone at 85%, Digital X (formerly Cobit) at 82.79%, and Gopax at 80.54%, according to Cointelegraph. The disclosures follow a Binance hack that prompted exchanges to publish their custody ratios, though differing calculation scopes and reference dates mean the percentages are not directly comparable as a security measure.