South Korea\'s Financial Supervisory Service is moving to address weak internal controls and limits of post-incident oversight cited as root causes of repeated hacking and system outages. It held a meeting with the National Assembly, financial associations, the Financial Security Institute, academia and security firms to discuss preventive digital risk supervision and control measures. Governor Lee Chan-jin said many incidents stem from failure to meet basic duties or weak controls and pledged strict accountability under a zero-tolerance principle.

Lee Chan-jin (이찬진), head of South Korea\'s Financial Supervisory Service, said the watchdog has completed inspection procedures into Bithumb\'s bitcoin mispayment case and will pursue sanctions after additional legal review of possible violations of the Virtual Asset User Protection Act. He said inspectors found flaws in internal controls and that broader institutional improvements for the digital asset market are being prepared. He added checks were also conducted at four other exchanges.