South Korea’s DAXA Forces Crypto Exchanges to Invalidate Suspicious API Keys
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On May 28 South Korea’s Digital Asset Exchange Alliance (DAXA) mandated that major CEXs, including Upbit, Bithumb, Coinone, Korbit and Gopax, detect and invalidate API keys suspected of being shared or lent to curb price manipulation; automated trading accounts for about 30% of Korean crypto volume, making API governance a systemic risk. Exchanges must monitor, warn, reverify and force expire API keys based on detected risk, a security and market integrity upgrade that should reduce manipulation, support regulatory compliance and bolster adoption and trust in the crypto ecosystem.
Рынки предсказаний
Что в фокусе у трейдеров?
- DAXA mandates Upbit, Bithumb, Coinone, Korbit, and Gopax to invalidate suspicious shared API keys.
- Automated trading accounts for 30% of Korean crypto volume, making API governance a systemic issue.
- Exchanges must now monitor, warn, re-verify, and force-expire API keys based on risk level detected.
South Korea’s Digital Asset Exchange Alliance (DAXA) has established mandatory compliance standards requiring the country’s major cryptocurrency exchanges to detect and invalidate API keys suspected of being improperly shared or lent between users.
The policy, announced May 28, targets a specific exploitation method that has been used to facilitate price manipulation and unfair trading practices across Korean crypto markets. DAXA member exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, are all subject to the new standards.
Why This Matters
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