Binance sold the Genesis asset claims of Gopax, causing Gopax to suffer losses of hundreds of billions of Korean won.

according to South Korean media hankyung, Gopax's largest shareholder Binance sold Gopax's Genesis asset claims for less than half of their face value.

Initially, Binance promised to compensate investors for 100% of their losses (approximately $70 billion at the time) when it closed the cryptocurrency deposit service Gopay last year. However, Binance did not use its own funds to compensate the victims but instead paid the compensation by selling the victims' asset claims at a discount. Binance sold Gopax's Genesis asset claims for less than half of the price, which, based on the market price at the time, was valued at approximately 70 billion Korean won.

Subsequently, virtual asset prices soared, and it is estimated that Gopax suffered losses of at least several hundred billion Korean won as a result.