Daxar Implements Virtual Asset Alert System to Protect Investors

The Digital Asset Exchange Joint Council (DAXA), consisting of South Korea's five major virtual asset exchanges?Gopax, Bithumb, Upbit, Korbit, and Coinone?announced on the 4th that it will implement a virtual asset alert system aimed at resolving information asymmetry to protect users.

The alert system is composed of five types: ▲sharp price fluctuations ▲surges in trading volume ▲increases in deposit volume ▲price discrepancies ▲concentrated trading by a small number of accounts. Specific application thresholds and exceptions to alerts will be determined according to each member exchange's internal standards within the range of conditions, considering differences in trading volumes by exchange or asset.

The system was developed collaboratively by the five member exchanges since the council's establishment around June last year, incorporating reviews and feedback from DAXA advisory committee members. A pilot operation phase was also conducted to ensure the stable introduction of the alert system.

The alert system operates through real-time monitoring at each exchange, providing notifications on the trading window of assets that meet specific alert conditions. It was agreed that alerts would be displayed for up to 24 hours, with the exact display duration determined by each member's internal standards.

Kim Jae-jin, DAXA's Standing Vice Chairman, stated, "The alert system focuses on resolving information asymmetry for users by quickly notifying them of information that ordinary people could not easily discern through charts or order books," adding, "It is the result of accumulated data and know-how from each member company combined with development technology and effort."

He continued, "We hope this will help resolve information asymmetry for users, and we will continue to strive to advance the alert system."

This content was produced with the assistance of AI translation services.