Korbit to cover shortfall in Harmony holdings after security incident

A mismatch emerged at South Korean crypto exchange Korbit between customer-deposited coins and the amount the exchange actually holds, News1 reported. The affected token was Harmony (ONE), which recently suffered a security incident and is traded among South Korean won-based exchanges only on Korbit. Customers had deposited 4,706,076 ONE with Korbit, while the exchange holds 4,491,789 ONE, leaving a shortfall of about 210,000 tokens. The gap is worth roughly 214,200 won, and Korbit plans to cover the shortfall with its own funds. Still, as the only South Korean won-based exchange to list and support trading in Harmony, Korbit is also facing criticism that it cannot easily avoid responsibility for listing and post-listing oversight.