Total global cryptocurrency losses from security hacks reached an annual record of $8.73 billion in 2026.

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The Bank of Korea requested that the 31 surveyed financial institutions submit their responses to the cryptocurrency risk survey by November 4, 2026.

The Bank of Korea survey includes South Korea's five major banks—KB Kookmin, Shinhan, Hana, Woori, and NH NongHyup—alongside 13 securities companies and other lenders.

A Bank of Korea official stated that the central bank is conducting the risk survey to establish a baseline understanding of financial institutions' digital asset activities, as regular reporting to the Financial Supervisory Service lacks crypto-specific details.

The Bank of Korea survey includes a scenario asking financial institutions to assess operational risks stemming from a steep decline in Bitcoin prices accompanied by a prolonged slump in trading volume.

The Bank of Korea's survey asks financial firms to evaluate the impact if South Korea's largest cryptocurrency exchange by market share temporarily suspends operations following a major hack or security breach.

South Korea's Financial Services Commission reported in October 2026 that 130 of 555 audited financial companies displayed security deficiencies, with confirmed breaches occurring at 16 firms, including two virtual asset businesses.

The central bank's questionnaire asks financial institutions to evaluate contagion risks, specifically how heavy crypto-related losses at one financial firm could affect other institutions across the sector.

The Bank of Korea's questionnaire asks financial institutions to provide details regarding their dedicated cryptocurrency teams, staffing levels, budget allocations, and risk management framework.

The Bank of Korea distributed its crypto risk survey to financial firms six days before Binance disclosed a $6.3 billion security breach on October 29, 2026.

The Bank of Korea survey requires banks and brokerages to disclose their existing digital asset businesses, planned projects, motives for market entry, and capital invested in domestic and overseas crypto companies.

Binance secured digital assets to cover approximately 95% of the stolen $6.3 billion using its corporate treasury, Futures Insurance Fund, and emergency reserve funds.

The conversion of stolen Solana tokens into Bitcoin marked an expansion of laundering routes after temporary holding wallets on the Tron network were largely emptied.

The Binance attackers converted over 130 stolen altcoins across Ethereum-compatible networks into approximately 123,400 Ether worth $277.26 million and 1.69 million USDC.

On-chain analysts estimated that despite issuer freezes, the Binance attackers retained control of roughly $3.24 billion to $3.5 billion in stolen cryptocurrency.

In the first four days following the Binance hack, attackers utilized roughly 12,000 temporary wallets across 11 blockchains and conducted over 40,000 transactions to obscure funds.

The Federal Bureau of Investigation, Secret Service, and IRS Criminal Investigation requested cryptocurrency services and operators to block transactions linked to identified Binance attacker wallet addresses.

Centralized cryptocurrency exchange Gate froze two accounts and cooperated with law enforcement after the Binance attackers deposited approximately $250,000 in stolen funds onto the platform.

Asset issuers including Tether and Circle froze approximately $3 billion in stolen cryptocurrency assets shortly after the October 29, 2026 Binance breach.

Binance pledged to cover customer losses using company resources and emergency reserves, having replenished about 95% of affected assets as of November 3, 2026.

The Binance attackers moved 486,970 Solana tokens worth roughly $46.4 million within one hour using Relay Protocol to execute cross-chain swaps into Bitcoin.