PANews, Nov. 2: According to Korean media outlet Bizwatch, South Korea's Financial Services Commission (FSC) on Nov. 2 urgently convened the Financial Supervisory Service (FSS), the Financial Security Institute (FSI), the Digital Asset Exchange Alliance (DAXA) and major domestic virtual asset exchanges for a meeting, focusing on inspecting each exchange's IT system access controls, the approval and signature systems for outbound transfers of assets from hot wallets and other wallets, and the management of administrator privileges. The FSC asked exchanges to increase their cold wallet holding ratio, conduct real-time monitoring of asset inflows and outflows, add emergency response personnel, and set aside additional reserves. Earlier, about $6.3 billion in assets were transferred out of a Binance hot wallet without authorization on Oct. 30.