DAXA to mandate forced expiration of improperly loaned API keys

South Korea's Digital Asset Exchange Alliance (DAXA) has established a new standard to prevent the improper lending of API keys by users on virtual asset exchanges, Hans Economics reported. An API key is an access credential that allows a user to connect to an exchange's functions—such as price and balance inquiries, order placement, and deposits/withdrawals—through self-developed or external programs. The alliance explained that this measure was taken in response to a recent series of incidents where lending or sharing API keys was exploited for unfair trading practices, including market manipulation.