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TRX $0.3240 +0.93%
DOGE $0.0834 +1.62%
ADA $0.1613 +1.43%
BCH $219.85 +2.87%
LINK $7.56 +2.19%
HYPE $57.96 -3.92%
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SUI $0.7483 +5.42%
XLM $0.2154 +8.34%
ZEC $382.07 -2.21%

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In the past 6 years, the five major virtual asset platforms in South Korea have experienced 57 incidents of hacking and system failures, with a total compensation amount reaching 7 billion won

According to the Korea Herald, the five major virtual asset trading platforms in South Korea (Upbit, Bithumb, Coinone, Korbit, Gopax) have experienced a total of 57 hacking attacks and system failure incidents over the past six years (from 2020 to April 2026), with a total compensation amount of approximately 7 billion Korean won (about 5.1 million USD). By exchange, the number of incidents is as follows: Upbit 26 incidents, Bithumb 14 incidents, Gopax 8 incidents, Coinone 6 incidents, Korbit 3 incidents.Among them, Bithumb compensated approximately 2.5 billion Korean won (about 1.8 million USD) for the BTC mis-distribution incident in February this year, Upbit compensated approximately 790 million Korean won (about 570,000 USD) for a hacking incident in November 2025, and compensated approximately 3.2 billion Korean won (about 2.3 million USD) for a system incident on December 3, 2024. It is worth noting that the standards for compiling incident reports and the scale and form of compensation vary among exchanges. For example, Gopax counts errors that occur when viewing the asset list as system failures, while Bithumb only counts situations where all customers encounter difficulties using core services for more than 10 minutes as system failures. Additionally, Bithumb provided some applicants who suffered losses due to system failures with free vouchers instead of cash compensation. The compensation amounts for system failures are as follows: Upbit approximately 3.21 billion Korean won, Bithumb approximately 3.2 billion Korean won, Coinone approximately 49 million Korean won. Korbit and Gopax did not provide any compensation.

Analysis: On-chain data does not show that investors are massively selling off crypto assets to participate in the SpaceX IPO

According to CoinDesk, despite market speculation that some retail investors may sell Bitcoin to participate in SpaceX's record-breaking $75 billion IPO, stablecoin liquidity and on-chain data show that there are currently no signs of large-scale capital withdrawal from the crypto market.This SpaceX IPO is valued at approximately $1.8 trillion, allocating up to 30% of shares to retail investors through platforms such as Robinhood, Fidelity, and Charles Schwab, significantly higher than the traditional IPO's allocation of about 10% to individual investors. After the roadshow began, subscription demand has exceeded the issuance scale.Data shows that the outflow of USDT and USDC remains within the normal range since February this year, with no abnormal redemptions or supply contractions. In contrast, on June 6, Bitcoin and Ethereum recorded net outflows of approximately 66,470 BTC and 2.49 million ETH from exchanges, indicating that more investors are transferring assets to private wallets, showing signs of buying the dip rather than concentrated cashing out.However, on-chain data cannot reflect the trading behavior of users on platforms like Robinhood and Coinbase, so whether crypto investors are selling assets to subscribe to SpaceX stock still requires waiting for relevant brokers to release subsequent data.Currently, the most significant capital outflows are coming from spot ETFs. Data shows that as of June 3, U.S. spot Bitcoin ETFs have experienced net outflows for 13 consecutive trading days, with total redemptions of approximately $4.4 billion; spot Ethereum ETFs have seen capital outflows for 17 consecutive trading days before returning to slight net inflows.According to the plan, SpaceX will complete pricing on June 11 and will be listed on Nasdaq under the stock code SPCX on June 12.
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