South Korean cryptocurrency exchange Gopax has announced the suspension of all trading services, transferring all customer assets to cold wallets.

South Korean crypto exchange Gopax said it will suspend all trading services and move every customer asset into cold storage, citing recent security breaches and data leaks at financial institutions as the trigger for the move. The exchange framed the halt as a precautionary step to strengthen protection of client funds rather than a response to any incident at Gopax itself. The suspension takes all trading offline, leaving customers unable to buy or sell on the platform while assets sit in cold wallets. The decision underscores how heavily Korean exchanges are weighing custody risk after a run of high-profile security failures across financial firms. What to watch next is the timeline for restoring trading and whether Gopax discloses the scope of customer assets affected and any withdrawal arrangements during the pause.