Vitalik Buterin Urges South Korea to Deregulate Blockchain, Embrace Crypto

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Oops! South Korean Crypto Exchange Accidentally Sends Traders $5 Million in Bitcoin

Image: Shutterstock By CCN.com: Did you ever dream of waking up in the morning to unexpectedly find a vast amount of cash miraculously appearing in your account? That is what recently happened to users of a prominent South Korean crypto exchange. Coindesk Korea has reported that the Korean crypto exchange Coinnest has accidentally airdropped over …

South Korean Bitcoin Exchange Upbit Denies Fraud Allegations as Executives are Formally Charged

South Korea’s top financial regulator has formally filed fraud charges against executives of one of the Asian country’s biggest cryptocurrency exchanges. Three senior executives of Upbit including the founder Song Chi-Hyung were charged with making fraudulent transactions between September and December last year by prosecutors in Seoul, according to nocutnews. Specifically, the senior Upbit executives …

South Korea’s National Assembly to Engage in First Crypto Debate

On December 10, South Korea’s National Assembly along with several members of the Congress are set to hold the country’s first official debate around crypto involving high profile government officials. Expected Talking Points of the Debate The meeting, arranged by the local market’s largest cryptocurrency exchanges including Upbit, Bithumb, Korbit, Gopax, and Coinone, will have …

North Korea Hacked Crypto Exchanges and Ran ICOs to Raise Money

Twitter Facebook LinkedIn According to cybersecurity firm Inksit Group, state-funded hackers in North Korea have been targeting crypto exchanges in South Korea to circumvent various sanctions imposed on the regime. The security firm alleged the government of North Korea of running illicit initial coin offering (ICO) projects and breaching into large crypto exchanges. “We discovered …

Korea’s Finance Minister Approves Banks Working With Crypto Exchanges

Choi Jong-Ku, the commissioner of the Financial Services Commission (FSC) of South Korea, has reaffirmed that there exists no issues related to compliance and security in the process of banks providing virtual bank accounts to local cryptocurrency exchanges. At the state affairs audit conducted by the government of South Korea to evaluate the progress of …

Korea’s 2nd Biggest Crypto Exchange Bithumb is Also Launching a DEX

Perhaps inspired by the world’s largest cryptocurrency exchange Binance to launch a decentralized exchange (DEX) by 2019, Bithumb, a major digital asset trading platform in South Korea, has announced its plans to operate a DEX in the months to come. Bithumb DEX, which is expected to target the global cryptocurrency market, will be launched under …

How the Recent $60m Crypto Hacking Attack Will Impact Japanese Market

Zaif, a major crypto exchange in Japan, was hacked this week, losing nearly $60 million in user funds in a high profile security breach. Local publications including Japan Times reported that 6.7 billion yen was stolen by an unknown group of hackers, 2.2 billion yen in corporate funds and 4.5 billion yen in user funds …

Over US$8 Million Lost by 2,600 Investors in South Korea’s ‘Treasure Ship’ ICO

Millions of dollars are estimated to have been sunk by investors seeking a piece of the ‘Russian treasure ship’ ICO fronted by a South Korean ‘treasure-hunting’ firm. According to South Korean police, it has been tentatively concluded that about 2,600 people invested around 9 billion won or slightly over US$8 million in Shinil Group which …

Philippines, Korea, and Thailand Move to Create the Next Crypto Valley

The Philippines, Thailand, and South Korea are moving towards creating the next crypto valley, after recognizing the success of Malta and Zug, Switzerland in creating crypto and blockchain friendly environments. Most countries in Southeast Asia, including Vietnam and Thailand, have cracked down on crypto trading and blockchain-related developments over the past year. A few months …