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The Korean Times, citing sources at DAXA, reports the launch of an emergency alert system that alerts users of abnormal deviations in the exchange price of crypto-assets presented on the platforms Upbit, Bithumb, Coinone, Korbit and Gopax.
In particular, the alert system sends messages when there is a sudden rise and fall in the price of coins, a sharp increase in trading volume or a spike in deposit volumes over a 10-day observation period during the day.
According to information provided by DAXA representatives, the alert system was designed to protect users by eliminating asymmetries and discrepancies in the incoming exchange information.
Earlier, South Korea’s DAXA and the country’s five partner commercial banks jointly decided to reduce the daily limit available to unauthorized clients for investing in crypto assets by 50%.