South Korean cryptocurrency exchange Gopax needs to repay approximately $47 million to its wealth management product GOFi customers

According to ChainCatcher news, the Korea Daily reported that the South Korean cryptocurrency exchange Gopax needs to repay up to 60 billion won (approximately 47 million USD) to its cryptocurrency financial product GOFi customers, including fixed-term deposit products, free-form products without a fixed deposit term, deposit service interest, and delayed interest incurred due to the suspension of withdrawals.

In November 2022, Gopax announced that due to the impact of the suspension of redemptions by its partner Genesis, GOFi would delay principal and interest repayments. In early January 2023, Decenter reported that Binance had recently completed its due diligence on the South Korean exchange Gopax and was in the final steps of confirmation procedures. However, the Korea Daily stated that a Binance employee indicated that no decision had been made regarding the acquisition of Gopax. (Source link)