DAXA mandates member exchanges to invalidate API keys linked to unauthorized sharing, impacting 30% of domestic crypto trading volume.
South Korea’s Digital Asset Exchange Alliance (DAXA) has implemented stricter compliance standards targeting API key misuse. The new rules require exchanges to invalidate keys suspected of improper sharing and enforce re-authentication after warnings. IP whitelisting systems will also be deployed to enhance security.
Automated trading accounts for approximately 30% of the country’s cryptocurrency turnover, according to financial regulators. The measures apply to major exchanges including Upbit, Bithumb, Coinone, Korbit, and Gopax, which will bolster monitoring of API activity.
The move aims to reduce risks associated with unauthorized access and improve market integrity amid rising concerns over automated trading practices.