After a hacking incident at a certain exchange, there was a delay of over 6 hours before it was reported to regulatory authorities.

ChainCatcher news, according to The Chosun Ilbo, a certain exchange reported to financial regulators more than 6 hours after a hacking incident occurred. The delay in disclosure may be due to its parent company Dunamu currently advancing merger and acquisition talks with tech giant Naver, and the exchange wanted to avoid the impact of the news.

The Financial Supervisory Service (FSS) of South Korea reported that the exchange held an emergency meeting 18 minutes after first detecting the hacking attack, suspended Solana network-related asset deposits and withdrawals 27 minutes later, and from 8:55 suspended all digital asset deposits and withdrawals. However, it was not until 10:58 that the FSS was notified for the first time. Despite the delayed reporting, regulators currently lack legal provisions for direct penalties or mandatory compensation.