Express

Korean FSC Says They Are Not Responsible For The Cryptocurrency Stolen By Hackers

Amy Liu

Summary: In response to a written inquiry from the Political Affairs Committee of the National Assembly, the Financial Services Commission of South Korea (FSC) stated that they are not responsible for the cryptocurrency stolen by hackers backed by the North Korean regime on crypto exchange platforms.  According to the report, the regulator argued that crypto exchanges ...

In response to a written inquiry from the Political Affairs Committee of the National Assembly, the Financial Services Commission of South Korea (FSC) stated that they are not responsible for the cryptocurrency stolen by hackers backed by the North Korean regime on crypto exchange platforms. 

According to the report, the regulator argued that crypto exchanges do not fall under their jurisdiction, but did not provide more details on the matter. They handed over responsibility to the South Korean Ministry of Foreign Affairs and the Korean Communications Commission (KCC). However, both of them believe that FSC is still responsible for any losses suffered by crypto companies because they are financial related. The two agencies pointed out that the FSC's job is "responsible for the management and supervision of virtual asset providers."

By Amy Liu

Last Update:

Tags: ,,,
Link: Korean FSC Says They Are Not Responsible For The Cryptocurrency Stolen By Hackers   [Copy]
  • GAEA Chat Singapore Concludes Successfully - A Recap of the Industry Thought Feast Duri... 17 days ago
  • U.S. SEC Clears Path for Institutional Crypto Custody, Recognizing State Trust Companie... 21 days ago
  • BTC Weekly Watch: Is the Rebound "Feast" Nearing Its End? September 16, 2025
  • ​The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? September 9, 2025
  • Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules September 5, 2025
  • You need to login to comment.