GOPAX Suspends Core Services After Extortion Threat, Moves Holdings Offline
South Korean exchange GOPAX halted trading, deposits and standard withdrawals after receiving a threat, while shifting customer assets into offline storage and offering delayed manual withdrawals.
South Korean exchange GOPAX halted trading, deposits and standard withdrawals after receiving a threat, while shifting customer assets into offline storage and offering delayed manual withdrawals. This is an original Token Times brief based on reporting by Crypto Economy, with live market data added, as of Fri, 06 Nov 2026 17:00:02 UTC.
The temporary service suspension shows how a threatened attack can immediately disrupt an exchange’s operating channels even without evidence of a successful breach. Moving customer assets offline may reduce exposure while manual processing creates a slower withdrawal path for users.
- GOPAX halted trading, deposits and standard withdrawals after receiving a hacking threat
- The exchange reported no confirmed breach or theft
- All customer crypto in custody was being moved into cold storage
- Manual withdrawals remain available through support
- GOPAX Suspends Trading and Withdrawals After Hacking Threat
- GOPAX Suspends Core Services After Extortion Threat, Moves Holdings Offline — this brief
GOPAX, a South Korean cryptocurrency exchange, suspended trading, deposits and standard withdrawals after receiving an email that threatened the company with a hack. Crypto Economy reported that the exchange had not identified a breach or theft at the time of its announcement. The incident prompted GOPAX to restrict its main service channels while it transfers assets held on behalf of customers into storage disconnected from the internet.
The stated asset-protection plan is extensive. Cryptopolitan reported that GOPAX intended to move 100% of customer tokens in its custody into offline wallets, while Crypto Economy described the plan more generally as moving all cryptocurrency assets into cold storage. Offline custody does not necessarily mean the assets are inaccessible, but the withdrawals currently available to users are being handled manually through support rather than through the exchange’s standard withdrawal system.
The four outlets corroborate the same central sequence: a hacking threat led to the suspension of ordinary trading activity, deposits and withdrawals, followed by an offline-storage operation. Crypto.news and Cointelegraph both highlighted the continued availability of manual withdrawals through support. Crypto Economy additionally indicated that those requests may be delayed, a qualification not stated in the shorter summaries from the other three publications.
Ownership provides additional context, although it comes from one outlet. Cryptopolitan identified GOPAX as a South Korean exchange in which Binance holds a majority stake. The other supplied reports focus on the service suspension, cold-storage migration and withdrawal process rather than GOPAX’s shareholder structure. No outlet supplied the value of customer assets involved, the identity of the person behind the threatening email or any estimate of the assets’ total value.
The broader crypto market was weak when GOPAX announced the disruption. Total market capitalization stood at $2.61 trillion, the overall market was broadly lower, and 
Bitcoin was down 4.98% over 24 hours. The Fear & Greed index registered 28, placing sentiment in the Fear category. No other listed coin was specifically connected to the GOPAX incident in the supplied coverage, and the market figures do not establish that the exchange’s suspension caused the broader decline.
For users, the immediate issue is access to funds rather than evidence of lost balances. Manual withdrawal requests through support may take longer than standard automated withdrawals, while trading and deposits are unavailable during the suspension. The next operational markers are whether GOPAX restores its usual services, confirms completion of the cold-storage migration, or reports any concrete evidence that the threat led to unauthorized access; the supplied coverage offers no such confirmation at present.
GOPAX Suspends Core Services After Extortion Threat, Moves H — questions & answers
Which GOPAX services were suspended?
GOPAX suspended trading, deposits and standard withdrawals. Manual withdrawals remained available through the exchange’s support team, according to Crypto Economy, Crypto.news and Cointelegraph.
How much customer crypto was moved into cold storage?
Cryptopolitan reported that GOPAX planned to move 100% of customer tokens in its custody into offline wallets. Crypto Economy likewise described a plan to move all crypto assets into cold storage.
Was GOPAX confirmed to have been hacked?
Crypto Economy reported no confirmed breach or theft. The suspension followed a threatening email, but the supplied coverage does not establish that attackers gained access to customer assets.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Crypto Economy. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.