With the recent rise in mainstream popularity of cryptocurrencies and the ever-present allegations of cybertheft and market manipulation, it has become a top priority for governments to put a lid on the madness.
Between hacks on major exchanges like Bithumb, attacks on the individual cryptocurrency networks such as ZenCash, and phishing attacks on just about every popular crypto site, the world has seen an unprecedented number of cybertheft incidents as a result of the cryptocurrency craze.
Some, such as the Chinese government, have resorted to banning cryptocurrencies altogether, though this has proven ineffective as China remains a world leader in Bitcoin mining.
Other countries such as South Korea and England are taking their time with regulation, hoping to develop a compromise that is both fair to investors and enforceable.
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Most breaches involved failures in customer due diligence and identity verification processes. The action coincides with reports of a potential majority acquisition by Mirae Asset. The case reinforces stricter regulatory expectations across South Korea’s crypto sector.
According to reports, Mirae Asset Group is in advanced talks to buy Korbit, South Korea’s long-running crypto exchange, in a deal valued at about 100 billion to 140 billion won — roughly $70 million to $100 million.
Hyundai Group’s Seoul offices were evacuated after an email threatened explosions unless a Bitcoin ransom was paid, authorities and media reports said. Related Reading: Hoskinson Warns Trump’s Crypto Push Could Backfire On The Industry The message demanded 13 Bitcoin — roughly $1.
Bitcoin Magazine
‘Pay 13 Bitcoin or We Blow It Up’: Hyundai Bomb Threat Shakes South Korean Offices
Hyundai Group evacuated staff from two Seoul offices after receiving a bomb threat email demanding bitcoin.
South Korea boasts one of the most reliable crypto audiences in the world. But when it comes to actually sticking around on-chain, that attention drops off fast.
