South Korean FSC dismiss plans to build Bitcoin reserve ‘for the time being’

2024-11-26 10:51

The South Korean FSC remains cautious of digital assets in the wake of domestic calls for a Bitcoin reserve after the U.S takes a bullish stance on crypto. According to a news report from South Korean news outlet Newsprime, Chairman…

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South Korean cryptocurrency exchanges pool data to counter money launderers

Laundering funds with cryptocurrencies in South Korea could soon become a thing of the past if four of the country’s exchanges have their way. According to a local media report, Bithumb, Upbit, Corbit and Coinone have cobbled together to share ‘real-time’ wallet information on any suspicious activity linked to phishing attempts and pyramid schemes.

2019-1-28 20:10


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Second Biggest Bitcoin Exchange Bithumb Seeks IPO Backdoor

South Korean cryptocurrency exchange Bithumb is looking to go public in the United States — a first for a major cryptocurrency exchange.   Bithumb Seeks Backdoor IPO Bithumb, the world’s second largest cryptocurrency exchange my volume, is reportedly planning on forgoing an Initial Public Offering (IPO) and garnering admission as a publically-listed company in the United States by way of a reverse merger.

2019-1-25 10:00


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CoinZest Airdrop Event Goes Wrong, Customers Receive $5.3 Million Worth of Crypto

CoinZest,  a South Korean cryptocurrency exchange has been left with no choice but to roll back all transactions on its servers after it mistakenly airdropped bitcoin and altcoins amounting to $5. 3 million to its clients, instead of the intended We Game tokens (WGT), according to local news source, CoindeskKorea on January 19, 2019.

2019-1-23 14:00


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Top Officials at Two Korean Cryptocurrency Exchanges Face Fraud Indictments

Several of South Korea’s top crypto exchanges have found themselves in hot water, with executives at a couple of exchanges facing criminal charges and jail time. According to a news report on the Korean website Blockinpress, the CEO of Komid, a Korean crypto exchange, has received a three-year prison sentence for committing fraud against investors by artificially inflating the exchange’s actual trading volume.

2019-1-23 00:57


S. Korean Exchange Accidentally Sends $5 Million Worth of Bitcoin (BTC) In Error During Airdrop

An airdrop mishap worth $5 Million in Bitcoin (BTC) and other cryptocurrencies was sent to customers of the South Korean exchange of CoinZest. The exchange was meant to send an airdrop of We Game Tokens (WGT) but a computer error resulted in users not only getting BTC and other cryptocurrencies, but deposits in the fiat […] The post S.

2019-1-22 16:46


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Only 7 out of 21 Crypto Exchanges Pass South Korean Government Audit

The South Korean Government recently conducted a security audit on 21 Cryptocurrency exchanges and according to a local news story published on January 10, 2019, only seven of them passed the audit. The audit took place between September and December 2018 and out of the 21 surveyed, Bithumb, Coinone, and Korbit, along with four others, made the grade.

2019-1-13 10:00


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South Korean government gives tax break to blockchain trailblazers

The South Korean government is giving the blockchain industry a tax break in a bid to help foster innovation in decentralized technologies. The Ministry of Strategy and Finance has announced that blockchain will be included in its amendments to 2018 tax law, which sees companies receive benefits for innovating with certain technologies, reports The News Asia.

2019-1-10 17:26