South Korea is preparing a cybersecurity overhaul for financial institutions after a review found security weaknesses at 130 of 555 companies and an investigation examined incidents affecting 16 firms, including cryptocurrency businesses.
According to Cointelegraph, the Financial Services Commission (FSC) said the proposed measures would strengthen threat monitoring, increase the frequency of security checks and make senior executives more accountable for weaknesses in their organizations. The review also found that roughly 100,000 pieces of customer information had been exposed across the affected companies.
The information reportedly included names, contact details and identification numbers. The incidents involved both traditional financial businesses and crypto-related firms, highlighting the range of institutions covered by the regulator’s review.
Crypto firms among companies affected
The companies identified in connection with the incidents include Streami, the operator of the Gopax cryptocurrency exchange, and crypto trading platform Prabang. Both had previously disclosed that a hack on Oct. 2 exposed personal information belonging to some customers.
The FSC is still examining the incidents. It has not determined whether artificial intelligence was used in the attacks or whether the separate events were connected to a single group of attackers.
The investigation into 16 companies followed an industry-wide review covering 555 financial firms. Security deficiencies were found at 130 of them, underscoring the scale of the regulator’s concerns even though the source material does not identify all of the companies or describe every weakness.
Proposed changes to oversight
Under the proposed framework, larger financial institutions would be required to complete vulnerability assessments at least twice a year. Such assessments are designed to identify weaknesses that could be exploited by unauthorized parties.
The regulator also plans to improve systems for sharing information about cyber threats. For smaller companies, it is considering the use of artificial intelligence in security monitoring, although the FSC has not said that this technology will be mandatory.
Another proposal would allow cybersecurity inspections outside the normal assessment timetable when urgent threats emerge. The aim is to give regulators more flexibility to respond between scheduled reviews.
The measures are proposals at this stage. The FSC said stronger executive accountability would form part of the broader effort to prevent similar incidents and improve how financial firms prepare for and respond to cyber risks.
Moneyiar market picture
Moneyiar data at the stated times showed mixed moves among the listed digital assets:
- Comedian (BAN) was at $0.0531943874, up 0.38% over 24 hours but down 12.97% over seven days, as of 21:18 on Oct. 15, 2026.
- Propy (PRO) was at $0.3719957447, gaining 2.16% in 24 hours and 9.71% over seven days, as of 21:19 on Oct. 15, 2026.
- Ore (ORE) was at $119.7971170161, down 0.23% over 24 hours and up 14.49% over seven days, as of 21:18 on Oct. 15, 2026.
- Lorenzo Protocol (BANK) was at $0.0369242006, up 5.05% over 24 hours and 4.28% over seven days, as of 02:59 on Aug. 19, 2026.
