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South Korean Bitcoin lending platform Delio pauses withdrawals
14.6.2023
The virtual asset manager and lending platform suspended withdrawals following challenges at Haru Invest, a similar entity
Crypto yield platform Haru suspends transfers after investigation
13.6.2023
The firm previously stated it had an issue with one of its service partners
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
OpenAI CEO highlights South Korean chips sector for AI growth, willing to invest
10.6.2023
Altman confirmed ongoing discussions with chipmaking companies like Samsung Electronics and expressed his willingness to further engage in the dialogue
Do Kwon Moved $29 Million Worth of Coins Since Arrest, Prosecutor Says
8.6.2023
Founder of Terraform Labs, Do Kwon, has withdrawn millions of dollars in crypto from an entity linked to his failed blockchain firm, investigators claim. South Korean authorities are now trying to locate the digital assets that have been allegedly transferred since his arrest in Montenegro...
Korean Prosecutors Target Terra Founder Do Kwon's Crypto Assets Amid Multi-Country Legal Issues
8.6.2023
Korean prosecutors are targeting the cryptocurrency assets of Do Kwon, the founder of failed blockchain project Terra.
Kwon allegedly funneled tens of millions of dollars out of Luna Foundation Guard (LFG), which he set up to help defend his now-defunct stablecoin TerraUSD's peg to...
Do Kwon could serve prison in both US and South Korea, prosecutor says
8.6.2023
South Korean senior prosecutor Dan Sunghan says Kwon's extradition to South Korea makes better sense, but suggested Kwon could also serve time in the US too
North Korean ‘Crypto Hackers Targeted S Korean Ministers’ – What Do We Know?
8.6.2023
North Korean crypto hackers “targeted South Korean ministers” in a campaign last year, Seoul-based police officials have claimed.
According to Dong-a Ilbo, police officials took control of a server they claimed was used during the attempted attacks.
And officers said they had “found...
S Korean Court Set to Decide If LUNC Is a Security – Trial of Terraform’s Shin to Begin
8.6.2023
The trial of the Terraform Labs Co-founder Daniel Shin is set to begin in South Korea – with prosecutors determined to prove that Terra Classic (LUNC) is a security.
Shin (Korean name Shin Hyun-seong) will face trial on fraud charges on June 10.
And the media outlets Chosun Ilbo and EToday...
SEC lawsuit against Binance stalls Gopax acquisition deal in South Korea
7.6.2023
The country’s financial watchdog claimed it was very difficult to accept the acquisition requests amid accusations of securities laws violations
S Korean Police Bust Two ‘Crypto Scam Rings’ Worth a Combined $350m – Crypto Fraud on the Rise?
31.5.2023
South Korean police have shut down two suspected crypto scams they think are worth a combined $350 million, with hundreds of victims believed to have been duped.
Per Joongboo Ilbo, one case involved a “virtual fashion items” marketplace.
This appears to have tricked at least 435 “victims” out...
South Korean Court Jails Civil Servant Who Stole Public Funds to Buy Crypto
29.5.2023
A South Korean court has handed a suspended jail term to a civil servant who stole thousands of USD worth of public funds to pay for crypto investments.
Per Yonhap, the public official was handed a one-year suspended prison sentence, as well as two years of probation.
The official was not named...
From Beijing to Tokyo, Asian nations get active in crypto regulation: Law Decoded, May 22–29
29.5.2023
Lawmakers in Japan have decided to enforce stricter Anti-Money Laundering measures to trace cryptocurrency transactions from June 1
Spike in Crypto Scams Targeting Young Korean Women – Here’s How Fraudsters Strike
29.5.2023
There has been a spike in South Korean crypto scams that target young women on social media platforms, a new study has revealed.
Per iNews24 and Hanguk Kyungjae, the study revealed that 71% of “romance scam victims” ensnared via social media in 2022 were women.
The vast majority of these women...
Crypto Exchange Coinone's Former Exec Acknowledges Bribery Charges in South Korea: Report
26.5.2023
A lawyer for the accused reportedly said he admits "the facts of the prosecution," during a May 25 trial hearing
S Korean Police Bust ‘Crypto Scammer’ Who ‘Preyed on Housewives and Office Workers’
26.5.2023
South Korean police have arrest a suspected crypto scammer who allegedly preyed on “housewives and office workers.”
According to the broadcaster SBS, officers in Gimpo, Gyeonggi Province, arrested a 38-year-old man.
He was handed over to prosecutors on fraud-related charges.
Officers claimed...
South Korea Lawmakers Pass Law Requiring Officials to Disclose Crypto Holdings: Report
25.5.2023
Lawmakers recently called for the Bill to take effect within two months
South Korea passes bill to make officials disclose Bitcoin holdings
25.5.2023
The “Kim Nam-guk Prevention Law” comes in response to a scandal involving some National Assembly members moving large amounts of crypto
South Korean Prosecution Vows to ‘Review’ Crypto Sector as Scandal Intensifies
25.5.2023
South Korea’s Prosecutor-General has promised a “thorough review” of the crypto sector amid rising “public suspicion” about politicians and their crypto holdings.
Per Yonhap, Prosecutor-General Lee Won-seok said his agency would “faithfully investigate” the sector.
And he pledged to “resolve...
Bail revoked for Do Kwon after prosecutors in Montenegro appeal: Report
24.5.2023
Kwon and former chief financial officer Han Chong-joon reportedly lived in Serbia before they were caught trying to leave neighboring Montenegro using false documents