Overview
- GOPAX halted deposits and standard withdrawals at 2:55 p.m. and suspended trading at 3:53 p.m. on Friday, canceling all outstanding orders as a precaution.
- The company says it detected a threatening email and has begun transferring most funds from internet-connected hot wallets to offline cold wallets to reduce online exposure.
- GOPAX reports no confirmed loss of customer assets so far and is handling withdrawals only through manual support requests that will be verified and processed more slowly than usual.
- The suspension follows a recent run of breaches that includes the Oct. 29 Binance hot-wallet theft and earlier GOPAX disclosures of an information exposure affecting seven customers and two employees.
- Regulators have stepped up inspections and asked exchanges to raise cold-storage ratios and tighten access controls, a move that could change how quickly platforms restore normal services and how customers access funds.