There’s been another incident in South Korea. After a major exchange was hacked, it took them more than 6 hours to report it to the regulators—this move is truly baffling.

What’s even more explosive is the possible reason behind it—rumor has it that their parent company was in the middle of acquisition talks with a domestic tech giant, and they were afraid that news of the hack would derail the deal. Regulatory filings show that the platform held an emergency meeting just 18 minutes after detecting the anomaly, 27 minutes… (subsequent response timeline is unclear).

Honestly, this kind of “withholding information for the sake of a deal” is quite dangerous. Which is more important: user asset security or regulatory compliance? The answer should be obvious. For the industry to go far, transparency and timely response are essential.