Binance-Controlled Korean Exchange GOPAX Stops Trading, Makes Users Email to Withdraw Crypto

GOPAX, the South Korean crypto exchange majority-owned by Binance, has halted trading and now processes crypto withdrawals only through emailed requests to its support desk, citing a recommendation from financial authorities and giving no date for reopening. The shutdown traps user funds behind a manual, email-based process at a platform whose parentage ties it to Binance, the world's largest exchange by volume. The move matters because it adds friction and uncertainty for Korean traders and raises fresh questions about Binance's overseas affiliates and their regulatory standing. What to watch next: whether GOPAX sets a reopening date, whether authorities clarify the scope of their recommendation, and whether the manual withdrawal backlog clears without delays.