With the implementation of the Virtual Asset User Protection Act, South Korean crypto exchange Gopax has signed up for business liability insurance for virtual assets from Samsung Fire. The product covers accidents such as hacking attacks. According to the Virtual Asset User Protection Act, exchanges must store more than 80% of their coins in cold wallets. For cases where the value of virtual assets stored in hot wallets connected to the Internet exceeds 5%, insurance must be registered or a portion of retained earnings must be used as a reserve.