According to Money Today, the Digital Asset Exchange Association of Korea (DAXA), consisting of the five major cryptocurrency exchanges in South Korea (Upbit, Bithumb, Coinone, Korbit, and Gopax), announced that starting from June 24th, all exchanges in South Korea that exchange fiat currency for cryptocurrencies will adopt a withdrawal delay system. This measure aims to prevent voice phishing scams, where criminals exchange stolen funds for virtual assets. Although some exchanges have voluntarily implemented similar systems before, there are differences in standards and processes among platforms, which has raised concerns about the overall effectiveness of these measures in preventing such fraud.
