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South Korean Crypto Fraudster Jailed for 7 Years
9.10.2023
A convicted South Korean crypto fraudster has been sentenced to seven years in prison.
Per Newsis and Segye Ilbo, a division of the Suwon District Court sentenced an unnamed individual in their 30s to jail after hearing how they defrauded victims of some $2.2 million.
The court heard that...
Crypto exchange Upbit was targeted by hackers 159K times in H1: Report
9.10.2023
The figure is more than double recorded in the first half of 2022 and a massive 1800% increase from the same period in 2020, according to the operating firm
Bank of Korea and BIS Prepare Wholesale CBDC Pilot
7.10.2023
The Bank of Korea and the Bank for International Settlements (BIS) have announced a new pilot that will test the functionality of a Korean wholesale central bank digital currency (CBDC), which will serve as a tool for banks to settle interbank transactions and issue CBDC-backed digital currencies...
Living Standards and Finance Education Drives Crypto Adoption Metric: Report
6.10.2023
Nearly 50% of digital asset users view added financial liquidity as a major reason for investing in cryptocurrencies, a new survey shows.
A new study conducted by cryptocurrency exchange, Bitget unveiled the regional dynamics of cryptocurrency investments, its impact on gender, and other social...
South Korean Debt Collectors Coming for Crypto Holders
6.10.2023
South Korean debt collectors are now seizing crypto in insolvency cases – and may soon be granted even more power to confiscate coins.
Per Hanguk Kyungjae, the Korea Deposit Insurance Corporation (KDIC), a firm that operates under the Financial Services Commission (FSC), has begun “seizing...
South Korea's Central Bank to Test Wholesale CBDCs in New Partnership – Here's What You Need to Know
5.10.2023
South Korea's central bank, the Bank of Korea (BoK), is set to embark on a wholesale central bank digital currency (CBDC) test in collaboration with the Bank for International Settlements (BIS) and other key institutions, the BOK announced on Wednesday.
The pilot project aims to assess...
South Korean Central Bank Sets ‘Real-World’ CBDC Pilot Date
5.10.2023
The South Korean central bank has set a date for its “real-world” CBDC pilot, with the first citizens slated to use the coin in the fourth quarter of FY2024.
Per the broadcaster KBS, the Bank of Korea (BOK) will team up with the country’s top financial regulators – the Financial Services...
South Korean Gaming Giant Netmarble Affiliate to List Coin on Japanese Exchange
5.10.2023
The South Korean video games giant Netmarble has made a blockchain gaming breakthrough with its subsidiary’s coin set to be listed on the Japanese crypto exchange Zaif.
Per Yonhap, the coin, MarbleX’s MBX, will be listed on the platform on October 11.
MarbleX is Netmarble’s blockchain gaming arm....
Bank of Korea to start CBDC infrastructure pilot
4.10.2023
The pilot will include private banks and public institutions, while the Bank for International Settlements (BIS) will support it with technical expertise
Japan May Become ‘Crypto El Dorado’ – South Korean Experts
4.10.2023
Japan is aiming to become a crypto and Web3 “powerhouse,” South Korean analysts and experts believe – but some think Seoul still has what it takes to surpass Tokyo.
Per Chosun Ilbo, South Korea’s biggest newspaper, Seoul-based crypto firms are concerned by the Japanese government’s proactive...
South Korean Overseas Crypto Holding Figures 'May Be Inflated': Report
3.10.2023
The research division of the South Korean crypto exchange Korbit revealed that the amount of overseas digital assets reported by domestic corporations and individuals to the National Tax Service, “may be inflated.”
The significant value of the reported amount is probably pumped up during...
Bankrupt CeFi firm Haru Invest hints at asset recovery
2.10.2023
No specific timeline was given as to when users can receive their money back
South Korean Court Jails Septuagenarian Bitcoin Fraudster
2.10.2023
A South Korean court has handed a 70-year-old man a jail sentence after finding him guilty of Bitcoin (BTC)-powered fraud.
Kyeonggi Ilbo reported that the unnamed man, identified only by the initial A, was given a one-year prison term for enabling “telecommunications-related financial...
Bitcoin.com Partners With Busan International Film Festival as Major Sponsor
1.10.2023
Bitcoin.com, one of the world’s leading cryptocurrency wallet developers and news portals, has partnered with the Busan International Film Festival as a major sponsor. The Busan International Film Festival (BIFF), held annually in South Korea, is one of the most significant film festivals...
S Korean Crypto Exchange Exec Jailed for Coin Price Manipulation
27.9.2023
A South Korean court has jailed a former senior executive of the crypto trading platform Coinone for taking bribes in exchange for listing altcoins.
The Seoul Southern District Court sentenced an individual surnamed Jeon (age 41) to four years in prison, Newsis reported.
Jeon was the former...
Digital Arm of Thailand’s SCBX and Korean Web3 Firm Hashed Ink R&D Partnership
27.9.2023
The partnership comes weeks after KBank, rival of SCBX’s parent, announced a $100 million web3 fund
Data Shows North Korean Lazarus Group Has Accumulated Bitcoin Valued Over $40M
25.9.2023
The North Korean hacking group known as Lazarus Group reportedly has holdings of over $47 million in cryptocurrency, with the majority in Bitcoin (BTC).
According to a report from the institutional crypto platform provider 21.co, wallets connected to Lazarus Group contain around 1,600 Bitcoin...
Crypto Exchange Upbit Resumes Aptos Withdrawals After Resolving Scam Token Issue
25.9.2023
South Korean cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals after a temporary halt prompted by a scam token infiltration.
On September 24, the Korean exchange abruptly paused Aptos withdrawals and deposits due to an "abnormal deposit attempt," sparking an immediate...
North Korean Lazarus Group amasses over $40M in Bitcoin, data reveals
25.9.2023
The North Korean hacking collective has at least $47 million in cryptocurrency, including Bitcoin, Ether, Binance Coin and various stablecoins, including Binance USD
South Korean’s Busan to Launch Digital Assets Trading Platform ‘This Year’
22.9.2023
The South Korean city of Busan says it will launch a long-awaited blockchain-powered digital assets trading platform before the year is over.
Per Meil Kyungjae, Busan city officials told reporters this week that they want to create a “fourth-generation blockchain-powered exchange” that “can...