After the Upbit hack on 27 November, where over $30 million of Solana-based tokens were stolen, most likely by the North Korean Lazarus Group, the South Korean government is planning to make crypto exchanges follow the same laws as banks in the region.
The Financial Services Commission (FSC) in Korea is putting forward a new law that would require crypto exchanges to compensate users for losses suffered by hacks, regardless of whether the exchange is at fault. This is the same law that applies to banks in the country.
Regardless of fault basically means that users that suffer losses directly from hacks will be reimbursed no matter what.
It should be noted that Upbit did say that they would compensate all users who suffered losses after the hack, despite there being no law that would force them to do so. However, this was more to protect their reputation than a legal requirement.
In short, the new law would order Korean crypto exchanges to reimburse users after hacks.
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We współpracy z: https://en.cryptonomist.ch/2025/12/08/korean-crypto-exchanges-to-follow-bank-level-laws-after-upbit-hack/
