Since October 29, exchange users have asked who really holds the coins. South Korea’s Financial Services Commission is now weighing a rule that would make exchanges keep about 99% of customer crypto offline. This would be up from 80%, crypto.news reports.
Yet Upbit already keeps 99.17% offline, while smaller rivals hold as little as 80.54%. That split frames the cryptocurrency news of the week: does storing coins offline make an exchange safe, or just slower?
Regulators are writing rules for exchanges, but past cycles paid most to buyers who came one step earlier. Buyers have committed over $11.2 million to Pepeto, whose exchange is designed never to hold its users’ coins.
Cryptocurrency News: Korea Weighs a 99% Cold Wallet Rule for Exchanges
South Korea’s financial regulator is considering raising the offline share of customer crypto to about 99%, local outlet News1 reported on November 3. It called an emergency meeting with exchanges after Binance lost about $6.3 billion from its hot wallets on October 29. It also asked them to hold extra reserves and to report deposits and withdrawals tied to the attack.
Still, the rule follows proof that offline storage protects users. At the end of September, Bithumb kept 94.76% of customer coins offline. So the largest platforms already meet or approach the target.
However, a cold wallet only changes where an exchange keeps the coins. The exchange still holds them. Smaller platforms warn that a 99% rule could slow withdrawals on busy days. For example, Bithumb’s withdrawals were already delayed about 13 hours in August.
This leaves a rule where this cryptocurrency news makes custody safer without removing the custodian, so a user with $100 or $1 million still waits on an operator. Pepeto is building a different design, a non custodial exchange where trades settle from wallet to wallet.
Pepeto Drew $11.2 million for an Exchange That Never Holds Coins
During the week the largest exchange in crypto rebuilt its reserves, Pepeto’s presale kept growing. It rose past $11.2 million, with the current stage at $0.0000001905. Pepeto, a meme project headed by a cofounder of Pepe, plans to keep each user’s coins in his own wallet from order to settlement. No operator ever holds the funds. In addition, a coin that never leaves its owner's wallet cannot be drained from an exchange's hot wallet. This is the risk Korea is now regulating.
PepetoSwap charges 0.00% with no protocol fee, so the user pays only network gas. A private relay hides orders from bots that trade ahead of them. A trader swapping $5,000 four times a month pays about $720 a year at Uniswap’s 0.30%. He pays $600 at PancakeSwap’s 0.25%, and keeps that money on PepetoSwap.
PepetoSwap is one of three tools in development, next to a free bridge and an AI risk scorer. Testing for all three is given privately to community members and big investors.
Pepe’s 2023 holders and Doge’s early ones saw small buys become fortunes, and a cofounder of Pepe now leads a project with an exchange in development. Every stage stops at its end date or its sales cap, and the stage after it always costs more.
Conclusion
Korea’s cold wallet rule is not final, and no new minimum has been announced. When Upbit was hacked on November 27, 2019, it lost 342,000 ETH worth about $49 million, or about $143 a coin. ETH bought that week reached $4,953.73 in August 2025. This turned $3,000 into about $104,000.
This week’s cryptocurrency news points the same way, toward platforms where users keep their own coins, and Pepeto is building one while its presale is still open.
The size of each 2019 purchase decided what it became. The wallets buying Pepeto now hold the lowest stage prices on offer before the approaching Binance listing ends the presale.
Click To Visit Pepeto official Website To Enter The Presale
Partner content. Crypto carries risk. Not financial advice.
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