South Korea’s five biggest exchanges cut balance checks to under 5 minutes

South Korea’s five largest won-based exchanges are now reconciling actual crypto holdings against internal ledger balances at intervals of under five minutes, Financial News reported on Oct. 2, citing data submitted by South Korea’s Financial Supervisory Service to the office of Democratic Party lawmaker Kang Jun-hyun. At the time of Bithumb’s mistaken Bitcoin payout incident in February, three of the five exchanges were conducting reconciliations only once a day, but the system was strengthened after South Korean financial authorities ordered the establishment of an always-on balance reconciliation framework.