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Binance Returns to Korean Crypto Market — Invests in Troubled Exchange Gopax
4.2.2023
Binance has returned to the South Korean cryptocurrency market after two years with a “meaningful” investment in a local, licensed crypto exchange. Gopax fell into trouble following the collapse of crypto exchange FTX and the bankruptcy filing of crypto lender Genesis Global. Binance...
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
South Korea to Regularly Inspect Crypto Risks With New Monitoring Tools
19.1.2023
South Korea’s financial regulator is developing new tools to regularly monitor crypto risks. The regulator warned that while the impact of the crypto market on the traditional financial system is still low, the risks posed by crypto to the country’s financial stability could increase...
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...
North Korean Crypto Hacks to ‘Surge’ This Year, Say Experts
9.1.2023
A “surge” in North Korean crypto hacks is on its way in 2023, a security provider has claimed.
The South Korean media outlet Money S reported that Panda Security, a Spanish cybersecurity software firm, predicted a “surge in fraudulent activities” and attempts to “steal virtual assets” in the year...
Executive Linked to Crypto Exchange Bithumb Found Dead Outside His Home: Report
4.1.2023
An executive of the largest shareholder of cryptocurrency exchange Bithumb was found dead outside his home. He allegedly committed suicide by jumping off a building while under investigation by Korean prosecutors for embezzlement and stock market manipulation. Executive Found Dead Amid...
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...
Korean Crypto Exchange Upbit's Parent Q3 Profit Slides 73%: Report
29.11.2022
Dunamu's net profit dropped to 160 billion won ($120 million), hit by lower trading and crypto market declines, CoinDesk Korea reported Tuesday
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...
South Korean Crypto Exchange Gopax Services Hit by Genesis Disruption
17.11.2022
Crypto chaos is finally taking its toll on South Korean exchanges – with the crypto investment bank Genesis’ decision to pause redemptions and new loan offerings earlier this week disrupting services on the Gopax trading platform.
Platforms in the nation have – until very recently – appeared...
Could South Korean Crypto Exchanges Be Safe from Bankruptcy Risk?
15.11.2022
With some of the biggest names in the crypto exchange game apparently teetering on the cusp of bankruptcy, attention in South Korea is turning to domestic trading platforms. And some are suggesting that the nation’s sector may be safe from insolvency – at least for the time being.
Per a report...
S. Korean Crypto Project Klaytn Will Offer Gas Fee Rebates to Gaming Firms
28.9.2022
The South Korean project said it would offset user gas fees and contract fees charged to gaming companies built on its platform
Korean crypto bank partners with Blockdaemon to offer retail staking services
22.9.2022
In January, Delio was granted Virtual Asset Service Providers (VASP) approval by the Korean Financial Intelligence Unit
Startup Aims to Become First South Korean Crypto Player to List on KOSDAQ Exchange
13.9.2022
A South Korean crypto and blockchain startup is aiming for the KOSDAQ, the country’s stock exchange, and could become the nation’s first publicly listed company.
The company, named Blocko, has hired one of the nation’s top financial firms – Shinhan Financial Investment – to manage the listing...
Investor Sues Korean Crypto Exchange for Delaying Coin Transfer Before Luna Crash
8.9.2022
A cryptocurrency investor has reportedly sued South Korean crypto exchange Upbit after the trading platform delayed processing his luna coin transfer prior to its crash. The Korean crypto exchange is investigating the details of the lawsuit. Upbit Sued by Crypto Investor Dunamu Inc., the company...
Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges
20.8.2022
The South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can...
FTX in Talks to Buy South Korean Crypto Exchange Bithumb: Report
26.7.2022
Bithumb’s parent company is considering both an outright sale or entering into joint ownership
Korean crypto startup Uprise to compensate investors after disastrous LUNC short trade
21.7.2022
The investment startup made a short bet on LUNC in May using client funds. The trade blew up and wiped out 99% of its assets