The post GlobalData: South Korea among world’s leading DLT markets appeared first on CoinReport.
The blockchain is widely considered to be one of the most revolutionary forms of technology in modern society. While it is typically used for recording financial transactions in real time, the blockchain is also being studied and explored by enterprises around the world for its abilities to store additional data in a safe and cost-effective manner.
South Korean police have arrested four high-ranking representatives of two cryptocurrency exchanges, including Coinnest’s CEO. They were detained on arrest warrants issued after a fraud investigation, prosecutors said. The executives are accused of embezzling funds belonging to customers and may face additional charges.
Suspects Transferred Billions of Won to Their Accounts
Police officials and prosecutors in Seoul announced they have detained four executives of two South Korean cryptocurrency exchanges. Kim Ik-hwan, co-founder and CEO of Coinnest, and the other three suspects were taken in custody on Wednesday. A local court has issued warrants for detention for up to 48 hours, the Seoul Southern District Prosecutors’ Office confirmed.
As the price of Bitcoin continues its steep correction in 2018, Bitcoin miners find themselves fighting over scraps.
The price of Bitcoin has fallen roughly 70% from its all-time high of nearly $ 20,000 in mid-December. Early Tuesday morning, the price of one Bitcoin nearly touched $ 6,000, before bouncing back to $ 7000.
While this sharp decline in price potentially signals a buying opportunity for some savvy investors looking to grab some of the dominant cryptocurrency at a steep discount, Bitcoin miners are left feeling the pain.
Bitcoin holders will meet at least three new hard forks in December as the success of Bitcoin Cash and Bitcoin Gold spawns a host of trailblazers.
Bitcoin’s (Minimum) 3-Fork December
Two more forks are slated to occur but do not yet have a block at which they will split from the Bitcoin core chain, while another, Bitcoin Diamond, has already done so and has futures trading around $ 50.
A summary of the forthcoming network snapshots, which could all potentially deliver ‘free money’ to BTC holders, appeared on Twitter Thursday.