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Chinese Government Officials Targeted With Ransomware, North Korea Suspected

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Chinese Government Officials Targeted With Ransomware, North Korea Suspected

A statement issued by the People’s Government of Yiling District, Yichang has revealed that Chinese officials have been the target of a ransomware email attack in recent days.

Also Read: Late Quadrigacx CEO Used Personal Funds to Fulfill Withdrawals

Chinese Government Officials Face Ransomware Attack

A statement issued by a Chinese provincial government website has announced that the National Network and Information Security Information Center has identified overseas hackers targeting the websites of government departments with emails containing ransomware.  Read more...

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South Korea Ends Year With 6 Bills to Regulate Crypto Industry

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South Korea Ends Year With 6 Bills to Regulate Cryptocurrency Industry

South Korea’s top financial regulator has exclusively shared with news.Bitcoin.com information about six cryptocurrency-related bills that have been submitted to the National Assembly. The most recent bill seeks to protect the rights of crypto owners and to ensure the safety and reliability of crypto transactions.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Six Crypto-Related Bills

South Korea’s top financial regulator, the Financial Services Commission (FSC), exclusively shared some information with news.Bitcoin.com on Thursday about various crypto-related bills that have been submitted to the National Assembly. A spokesperson for the regulator said:  Read more...

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South Korea: Dangerous Precedent Set – Court Finds Bithumb Not Financially Responsible for Crypto Exchange Hack

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A South Korean court has acquitted Bithumb from all wrongdoings after the company was accused by one of its clients in a hacking incident that saw the customer lose thousands of dollars, according to a report filed earlier this week, in the Korea Economic Daily. The customer who brought the lawsuit against the exchange was

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Korea Institute of Finance Director: Crypto Custody is Key in Rapid Growth

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Gong-pil Choi, the director of the Korea Institute of Finance, said that custody in crypto is crucial in eliminating hacking fears and facilitating the growth of the market. The Korea Institute of Finance, an agency that works with the government to research and evaluate financial policies to bolster the country’s financial sector, has emphasized that

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7 Major Exchanges in Korea to Create Healthy Cryptocurrency Ecosystem

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7 Major Exchanges in Korea to Create a Healthy Cryptocurrency Ecosystem

Seven major crypto exchanges in South Korea have joined forces to create a sound cryptocurrency ecosystem. They have agreed on joint measures such as information sharing and real-time monitoring of abnormal transactions. Meanwhile, the Korean government is working on institutionalizing crypto exchanges.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations  Read more...

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Upbit CEO: Crypto Regulation is Necessary, But is Korea on Right Track?

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On December 10, Lee Seok-wu, the CEO of Dunamu, the parent company of South Korea’s largest crypto exchange Upbit, said that regulation is important to establish industry standards. During a meeting with several members of the Congress and the Financial Services Commission (FSC) hosted by Upbit, Bithumb, Gopax, Korbit, and Coinone, five of the biggest

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Major Crypto OTC Exchange in Korea: Gov’t Should Acknowledge Fidelity, Nasdaq

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At the first official meeting between five of the biggest crypto exchanges and the government of South Korea, Cumberland Korea CEO Hong Joon-ki said that both the government and local financial institutions have to acknowledge the efforts of Nasdaq, Fidelity, and some of the largest conglomerates in the global market working to strengthen the infrastructure

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Renvale Exchange Official Signing Ceremony with D Coin Asset held in Seoul Korea

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This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned … Continued

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Why South Korea Will Play a Major Role in Cryptocurrency Adoption

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As a high-tech hub known for its consumer electronics, tech giants, esports, and global innovation, perhaps it’s not surprising that a report by Cindicator revealed that South Korea will play a major role in cryptocurrency adoption. By reviewing existing data on exchange volumes, recent economic history, regulation, and trends, the tokenized fintech asset management company

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South Korea Is Trialing Blockchain Voting — Here’s What That Means

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South Korea Blockchain Voting

South Korea will test out a new blockchain voting system this month, sources close to the developments have confirmed to Bitcoin Magazine. Developed by the country’s National Election Commission (NEC) and its Ministry of Science and ICT, the distributed ledger system is based on IBM’s Hyperledger Fabric and will be used to authenticate voters and save voting results in real time.

South Korean officials believe a blockchain voting system will increase both security and transparency, thereby improving people’s trust in digital voting. The NEC initially ran an online voting system dubbed “K-voting” back in 2013, but, despite 5.64 million users, trust remained low due to fraud and hacking concerns.  Read more...

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Could South Korea Follow Japan in Allowing Private Crypto ICOs?

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On November 26, the Financial Services Agency (FSA) of Japan held an internal meeting to discuss the possibility of allowing private crypto initial coin offering (ICO) projects. Nikkei exclusively reported that local financial authorities are actively exploring the legalization of ICOs for institutional investors and accredited investors, as long as they are lawfully conducted within

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South Korea to Test Blockchain-based Voting Prior to Integration with Online Voting

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Blockchain voting could soon be a reality in South Korea if the trial on a system based on distributed ledger technology turns out successfully. According to The Korea Times, the development of the blockchain-based voting system will be completed in December. The system which is the brainchild of South Korea’s National Election Commission and the

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Philippine Crypto Valley to Attract Companies From Japan, Korea and Australia

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Philippine Crypto Valley to Attract Companies From Japan, Korea and Australia

The Philippine government-owned Cagayan Economic Zone Authority has unveiled a plan to attract Japanese, Korean and Australian companies to its “Crypto Valley of Asia.” The authority is also cracking down on crypto companies operating within its economic zone without a license.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Ceza’s Crypto Valley of Asia

Philippine Crypto Valley to Attract Companies From Japan, Korea and AustraliaThe Cagayan Economic Zone Authority (Ceza) announced last week its plan to attract companies from Japan, Korea, and Australia to its Crypto Valley of Asia.  Read more...

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Prepaid Cardano (ADA) Card Released in South Korea for a Limited Time

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Cardano (ADA) investors located in South Korea are now able to purchase prepaid ADA debit cards for a limited time starting today through December 4. The cards are made possible through a partnership with Metaps Plus, one of the leading South Korean mobile payment platforms. According to a rough translation of the announcement page, the cards […]
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US, Korea, China Stock Markets Plummet: is Crypto Correlated?

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The crypto market is continuing to lose its value as the U.S., South Korea, and China demonstrate record high losses in their respective stock markets. As an alternative store of value, cryptocurrencies are considered as viable long-term investments, especially by millennials, in a period of global financial market instability and volatility. However, recent weeks have

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Tezos Korea Foundation Joins Forces with Yonsei University to Promote Blockchain

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The South Korean arm of the Tezos Foundation has signed a Memorandum of Understanding (MoU) with Yonsei University for the development of unique talents and expertise in blockchain technology, according to a press release  published by Tezos. The release reads: “Through this agreement, both sides will strengthen the expertise of the blockchain and education expertise,

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South Korea to Track Beef Through Entire Supply Chain on a Blockchain

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A blockchain technology pilot aimed at tracking beef through the entire food supply chain has been announced in South Korea. The pilot will be jointly undertaken by the Ministry of Science and ICT and the Ministry of Agriculture, Food and Rural Affairs, according to Yonhap News Agency. The launch date has been set for next

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Guilty Conscience? $30M Crypto Exit Scam in South Korea Refunds Victims

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Earlier this week, a crypto exit scam in South Korea called “Pure Bit” disappeared with more than $ 30 million in user funds. On November 4, the group conducted an initial coin offering (ICO) to raise nearly $ 30 million using Ethereum (ETH) to build a cryptocurrency exchange. On November 13, as CCN reported, Pure Bit and

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North Korea Hacked Crypto Exchanges and Ran ICOs to Fund Regime: Report

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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 that North Korea’s

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5 Arrested in South Korea For Injecting Crypto Mining Malware in 6,000 PCs

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Five men in South Korea were arrested on Thursday for illicitly injecting crypto mining malware into more than 6,000 computers. Local police and the Korean National Police Agency Cyber Bureau said in an official statement that a group of five hackers led by a 24-year-old Kim Amu-gae released 32,435 emails containing cryptocurrency mining malware targeting

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