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Authorities order South Korean crypto platforms to maintain reserves
28.8.2023
Crypto exchange platforms in South Korea have been instructed by relevant authorities to maintain reserves with Korean banks. This pertains to the intention of the government to protect those who are venturing out on the path to build a portfolio with digital tokens. Per the instructions, crypto...
South Korean Crypto Exchanges Mandated to Maintain Reserve Funds of $2.3 Million
28.8.2023
South Korean cryptocurrency exchanges will be required to maintain a reserve fund of at least 3 billion won (approximately $2.3 million) in designated bank accounts starting September.
The new regulations for crypto exchanges are aimed at enhancing user protection in the event of unforeseen...
South Korean Crypto Murder Case Takes New Twist – Suspect: ‘My Confession Was False’
25.8.2023
A bizarre South Korean crypto-related murder case has taken a new twist, with one of the chief suspects telling a court his initial confession was “false.”
The case revolves around a woman who was apparently abducted from a busy street in Seoul’s affluent Gangnam District in March this year.
The...
Top 5 South Korean Crypto Exchanges Reveal Compliance Strategies to Curb Illicit Activities
28.7.2023
According to a statement published by the South Korean Financial Services Commission (FSC), the entity’s Korea Financial Intelligence Unit held a meeting with virtual asset service providers (VASPs) in order to strengthen regulatory compliance. The top five South Korean cryptocurrency...
Regulatory Investigation Targets South Korean Crypto Lender Delio
3.7.2023
South Korea-based Delio is currently under scrutiny as the country's Financial Services Commission (FSC) investigates the crypto lending firm for alleged fraud, embezzlement, and breach of trust.
According to reports from local news outlet Digital Asset, the investigation sprouts from Delio's...
South Korean crypto lending firm Delio under investigation by regulators
30.6.2023
The firm allegedly denied having any exposure to troubled sister lending firm Haru Invest before suspending transfers earlier this month
South Korean Crypto Yield Firm Haru Invest Fires More Than 100 Employees: Report
22.6.2023
Earlier this month, Haru Invest halted withdrawals and deposits
South Korean Crypto Yield Platform Haru Invest Pauses Withdrawals and Deposits
13.6.2023
The firm blamed the pause on a “certain issue” with one of its service partners, and said it is working on a contingency plan, according to a blog update
South Korean ‘Crypto Drug-trading Teens’ Jailed
18.4.2023
A “continuous” flow of South Korean teens is being given jail time as law enforcers continue a crackdown on crypto-powered drug trading.
Kyungnam Shinmun reported that courts in the southern city of Changwon are now “sentencing teens and people in their twenties to imprisonment, one after...
ApeCoin surges 1,950% on South Korean crypto exchange Upbit
12.4.2023
The APE/BTC trading pair reached an all-time high of around $90 apiece on the exchange
Employees of South Korean Crypto Exchange Coinone Arrested: Report
11.4.2023
Seoul Southern District Court Chief Judge Kim Ji-Sook issued a warrant for the arrests on Monday, saying "There is concern about escaping."
South Korean crypto exchange GDAC hacked for nearly $14M
10.4.2023
The exchange said that all deposits and and withdrawals are temporarily suspended as it performs emergency server maintenance
XRP Trading Volumes Surges to Billions of Dollars on South Korean Crypto Exchanges
30.3.2023
XRP trading made up nearly 50% of all volumes on Korbit, a prominent local exchange
South Korean Crypto Exchanges Set to Renew Banking Deals
17.3.2023
South Korea’s leading crypto exchanges are ready to renew their banking deals – in a sign that relations between the “big four” trading platforms and the traditional financial sector remain strong.
Per Business Post, Bithumb is close to sealing an agreement with NongHyup Bank (NH Bank)....
Former Chairman of South Korean Crypto Exchange Bithumb Arrested: Report
2.2.2023
Kang Jong-hyun, a former chairman at South Koean cryptocurrency exchange Bithumb has been arrested on Thursday
Korean Court Orders Crypto Exchange to Pay Customers Suffering From Service Outage
16.1.2023
South Korea’s supreme court has upheld the ruling for Bithumb, the country’s largest cryptocurrency exchange, to pay damages to more than a hundred customers who filed a lawsuit claiming they suffered financial losses resulting from the exchange’s service outage. Bithumb...
Executives from $1.5B South Korean crypto exchange fraud jailed
28.12.2022
The latest court action now takes the number of V Global execs behind bars up to seven, as the CEO, known as Mr. Lee was previously sentenced to a 22 year prison term
South Korean Crypto Exchange CEO to Serve 25 Years in Jail After Appeal Fails
2.12.2022
The CEO of a South Korean crypto exchange who was found guilty of murdering his lover by stabbing her and pushing her out of a 19th-storey apartment window has had his appeal rejected – and will serve 25 years in prison....
Read More: South Korean Crypto Exchange CEO to Serve 25 Years in Jail After...
WEMIX Delisting: South Korean Crypto Exchange Upbit Accused of Instigating Token Removal
28.11.2022
According to the CEO of Wemade, Henry Chang, the South Korean cryptocurrency exchange Upbit was the brains behind the Digital Asset Exchange Joint Consultative Body (DAXA)’s decision to delist WEMIX. The Wemade CEO accused Upbit of applying different standards and of failing to furnish...
South Korean Crypto Exchanges Delist WEMIX — Token Price Plunges by Nearly 70%
25.11.2022
The Digital Asset Exchange Joint Consultative Body (DAXA), the South Korean association of crypto exchanges, announced on Nov. 24 that the WEMIX token would be delisted. In justifying the decision to delist WEMIX, the association claimed the information provided by the token’s issuer Wemade...