South Korean crypto exchange Gopax needs to repay about $47 million to its wealth management product GOFi customers

According to Chosun Ilbo, South Korean crypto exchange Gopax needs to repay up to 60 billion won (approximately $47 million) to customers of its crypto wealth management product GOFi, including time deposit fixed products, free-form products with no term deposit period, deposit services Interest and interest on delays due to suspension of withdrawals. In November 2022, Gopax announced that GOFi will delay repayment of debt and interest because GOFi is affected by the suspension of redemption by its partner Genesis. In early January 2023, according to Decenter reports, Binance has recently completed due diligence on the acquisition of South Korean exchange Gopax, and is in the final steps of the confirmation process. However, according to the Chosun Ilbo, a staff member of Binance said that no decision has been made regarding the acquisition of Gopax.