Korbit faces 210,000-ONE shortfall between customer deposits and holdings

  • Korbit plans to cover its Harmony token shortfall with corporate funds.
  • 4,706,076 ONE was deposited, versus 4,491,789 ONE held, worth roughly 214,200 won.
  • Korbit is South Korea’s only won-based Harmony exchange and faces oversight criticism.

South Korean crypto exchange Korbit holds 4,491,789 Harmony (ONE) tokens against customer deposits of 4,706,076 ONE, creating a shortfall of about 210,000 tokens worth roughly 214,200 won. Korbit plans to cover the difference with its own funds so customer balances remain fully backed. The discrepancy followed a security incident affecting the Harmony network, though its precise cause has not been disclosed. Korbit is the only South Korean won-based exchange listing Harmony and faces criticism over its listing and post-listing oversight, News1 reported.

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