South Korea’s five largest won-based exchanges cut crypto checks to under five minutes

  • South Korea’s five largest won-based exchanges shortened balance reconciliation to under five minutes.
  • Three exchanges checked holdings against ledgers only once daily during February’s Bithumb payout.
  • South Korean financial authorities mandated real-time balance reconciliation across the five exchanges.

South Korea’s five largest won-based crypto exchanges now compare actual holdings with internal ledger balances at intervals of under five minutes. The faster reconciliation followed Bithumb’s mistaken Bitcoin payout in February, when three of the five exchanges performed the checks only once a day. Financial authorities subsequently mandated real-time balance reconciliation, requiring an always-on framework. Financial News reported the change on Oct. 2, citing data submitted by the Financial Supervisory Service, South Korea’s financial regulator, to the office of Democratic Party lawmaker Kang Jun-hyun.

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