Concerns have also intensified following Binance’s Oct. 29 hacking incident, which resulted in approximately $6.3 billion in reported damages. Binance holds a controlling stake in GOPAX, owning roughly 67% of Streami, the operator of the South Korean exchange. The ownership change was formally recognized by South Korea’s Financial Intelligence Unit in October 2025.
The world’s largest crypto exchange initially acquired the majority stake in February 2023 through its Industry Recovery Initiative. The investment was intended to help GOPAX recover from the GoFi deposit-product crisis, which was triggered by the insolvency of Genesis Global Capital and left customers unable to access their funds.
Gopax is among South Korea’s five major won-denominated crypto exchanges, alongside Upbit, Bithumb, Coinone, and Korbit.
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