Search
South Korean Crypto Exchange Execs Arrested Amid USD 2B Fraud Fears
3.7.2021
Police in South Korea said they fear that the crypto exchange V Global could be at the center of a fraud network that has sucked in some USD 2bn, as investigations into the platform intensify and police officers raided the exchange’s offices.
Per Seoul Shinmun and Hankook Ilbo, police claim that...
South Korean Crypto Exchanges Ready for Legal Fight Amid Closure Threats
28.6.2021
Source: Adobe/david_franklin
South Korean crypto exchanges are preparing lawsuits to sue the government or challenge it in the constitutional court if they fail to meet a September regulatory deadline and are obliged to close.
New regulations for crypto exchanges, which have already passed into...
Top South Korean Crypto Exchanges Purging Altcoins in Late-night Culls
18.6.2021
Multiple South Korean crypto exchanges have gone on token purges, culling a wide range of altcoins from their platforms – and following in the wake of the market-leading exchange Upbit, which has earmarked 30 coins for the ax.
As previously reported, Upbit’s unexpected move saw five coins removed...
South Korean crypto exchanges banned from handling coins they issued themselves
17.6.2021
Exchange tokens are falling under the scrutiny of South Korean regulators
Regulator Extends South Korean Crypto Exchanges’ AML Window by 6 Months
15.6.2021
South Korean crypto exchanges have been given a short extension in their race to get anti-money laundering (AML) protocols in place – although the nation’s top regulator has promised to place the industry under “intense scrutiny” in the months ahead.
The nation’s first piece of crypto-specific...
Lawsuit Accuses Korean Crypto Exchange of $3.5 Billion Scam, Tens of Thousands Defrauded
5.6.2021
A class action lawsuit has been filed in South Korea accusing cryptocurrency exchange V Global of defrauding investors. The police reportedly estimate that 69,000 people have invested with the crypto exchange and the damage amounts to 3.8 trillion won. Crypto Exchange Sued for Defrauding Investors...
Bank account flows for South Korean crypto exchanges surge 40% since 2020
1.6.2021
Upbit exchange paid 10 times more in fees to South Korean internet bank K bank Q1 2021 than in the previous quarter
Hope for South Korean Crypto Exchanges as Bank Keen on Contract Renewal
28.5.2021
There may be a glimmer of hope at last for the South Korean crypto exchanges fearing for their future, with the neobank K-Bank reportedly set to renew its contract with the market-leading trading platform Upbit – just days after three major commercial banks ruled out the prospect of doing...
Bank Risk Assessment May Threaten Bithumb, South Korean Crypto Exchanges
21.5.2021
South Korean banks are set to audit crypto exchanges’ senior managers as part of their due diligence and risk assessment protocols for real-name banking contracts – and there are concerns Bithumb officials may struggle to pass the checks due to previous and ongoing fraud allegations.
Bank-conducted...
‘Elderly’ South Korean Crypto Fans Brave 30-min Waits at Customer Centers
11.5.2021
South Korean Crypto Fever 2.0 shows no sign of abating – with customers weathering waiting time of 30 minutes or more as queues of wannabe investors wait to get face-to-face service from the crypto exchange Bithumb’s reopened offline center in Seoul’s affluent Gangnam District.
As previously...
Digital Currency Group backs South Korean crypto exchange operator
6.5.2021
Streami, the company behind the popular GOPAX exchange, has received direct funding from Digital Currency Group
South Korean Crypto Tax U-Turn Looking Unlikely, Despite Outcry
5.5.2021
Despite the recent outcry about crypto tax among younger South Koreans, a new small survey has found that most of the respondents are in favor of imposing taxes on crypto traders’ profits.
Per Segye Ilbo and Chosun, the survey quizzed 500 people aged 18 and over nationwide and was commissioned...
Young South Korean Crypto Enthusiasts Ditch Youtube For TikTok
30.4.2021
Young South Korean crypto enthusiasts are reportedly increasingly shunning YouTube – once their favorite resource for crypto investment advice and token-related talk – in favor of TikTok-based crypto content-makers.
Per Chosun, Generation Z investors are increasingly looking to broaden their...
South Korean Crypto Grannies and Grandpas Shoot for the Moon
23.4.2021
Is crypto exclusively a young person’s game? Not in South Korea, it seems, where – in addition to crypto moms, some of whom are not afraid to ask their children for trading tips, crypto grannies and grandpas are starting to get involved in the bitcoin (BTC) and altcoin markets.
South Korea Crypto...
South Korean Government Seeks to Regulate International Remittances Related to Crypto ‘Kimchi Premium’
22.4.2021
The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi...
South Korean crypto traders are pivoting to ‘smaller cap’ altcoins
13.4.2021
Bitcoin trading activity in South Korea has reportedly dipped amid rising interest in smaller altcoins
New South Korean Crypto ‘Crackdown’ not ‘Bluster’ as Banking Ties Strain
8.4.2021
Source: Adobe/Raphaël Bourgeois
The South Korean government has announced that it will embark on a “crackdown” on illegal crypto transactions, including those made on international crypto exchanges – following a meeting of high-powered political leaders, law enforcers and financial...
North Korean Hackers Threatened Bithumb Exchange With a $16M Ransom Amid the 2017 Data Breach, Says Report
7.4.2021
A new report commissioned by the U.S. secret services unveiled what happened behind the attack launched by North Korean hackers against a South Korean crypto exchange. The case is about a breach on June 29, 2017, which exposed data tied to over 30,000 customers stemming from Bithumb. Hackers...
At Least 10 South Korean Crypto Exchanges’ ‘Survival Not Guaranteed’
7.4.2021
More South Korean crypto exchanges are almost certain to fold in the months ahead, regulators and industry insiders have claimed, with just five months left before some of the toughest policing measures in the world come into force.
Per Fn News, regulatory sources familiar with the matter claim...
Customers of Small South Korean Crypto Exchanges Fear for their Funds
31.3.2021
South Korean crypto exchanges are now among the most tightly policed trading platforms in the world after a new piece of anti-money laundering (AML) legislation promulgated last week, also placing controls on banking operations and much more. But in the ensuing grace period – which runs until late...