Coinone, one of the largest crypto exchanges in South Korea, announced on Wednesday that it will not allow withdrawals to external wallets that have not been authenticated.
This change, which will require users to now register their external wallets with the exchange, will go into effect on January 24, 2022. The wallets that the exchange will accept can be registered or KYC (know your customer) information must be confirmed.
external wallets, “hot” and “cold” It includes all wallets offered by third parties, including so-called storage options. MetaMask and Ledger Coinone users will not be able to withdraw their money to these wallets, as wallets like these do not require KYC.
Binance and Coinbase wallets belonging to exchanges such as Coinone as it requires KYC can be verified with
The exchange said this change is necessary to ensure that customers do not use cryptocurrencies for illegal activities such as money laundering.
Customers sign up with Coinone names, e-mails and phone numbers to be the same Wallets that require KYC they can verify.
According to CoinMarketCap data, the last 24-hour trading volume of the Coinone exchange is at the time of writing. 194,800,888 is dollars.