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Israeli hybrid blockchain platform Orbs has announced that it is entering an investment partnership with the venture arm of South Korean internet group Kakao. Created to serve as a pioneering public blockchain system offering unprecedented flexibility and utility, Orbs permits business dApp developers to deploy over a highly secure and liquid network that comes with
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Coinone subsidiary Coinone Transfer has introduced Cross, South Korea’s first blockchain-based remittance app and web service, using enterprise blockchain technology created by Ripple. Cross gives people in Thailand and the Philippines access to faster and cheaper payment services. Coinone Transfer utilized RippleNet and connections with the Siam Commercial Bank (Thailand) and Cebuana Lhuillier (Philippines) to
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Faced with depleted reserves and having been hit with sanctions aimed at its illegal nuclear weapons program, North Korean hackers have a new strategy for growing the country’s cash reserves — steal crypto holdings from individual investors. According to a report from the South China Morning Post (SCMP), the option to target individuals who hold cryptocurrencies
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According to local news outlet Joongnag Daily, a blockchain company based in Korea believes that it has found what it takes to revolutionize blockchain technology and bring even quicker pace to the way that transactions are being carried out. SymVerse, a blockchain firm that was established earlier this year, hosted an event and held a demonstration
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A South Korean lawmaker has reportedly introduced a bill to promote cryptocurrency trading and the development of crypto exchanges. In addition to requirements such as capital, manpower, and internal systems, the bill proposes establishing a committee to promote and support crypto trading.
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations
Korean lawmaker Kim Sun-dong, a member of the National Assembly’s Political Committee, announced last week that he has initiated the Digital Asset Trading Promotion Act, local media reported. Seoul Finance elaborated:
Cryptocurrency exchange Zeniex has announced that it is terminating all services after South Korea’s financial authorities started cracking down on unauthorized crypto funds. The exchange is asking its customers to withdraw their cryptocurrencies before the end-of-service date.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Zeniex, an exchange launched in May, announced on Friday the termination of all services. The decision follows the investigation by South Korean financial authorities of the exchange’s cryptocurrency fund called Zxg Crypto Fund No. 1 (ZXG). Zeniex elaborated:
A South Korean ICO has defrauded its private sale investors out of roughly 13,500 ETH ($ 2.8 million) before disappearing from the internet entirely.
Pure Bit, which has already pulled the plug on its website, has apparently conducted a fairly routine exit scam for its Pure Coin token sale. The cryptocurrency was pitched as an exchange token for Pure Bit, an exchange that was supposed to launch by the end of the month. The Coin promised to give investors shares of the exchange’s trading revenue as well as discounted fees for trading, and its anonymous team claimed that it would burn 90% of token supply over a three year period.
According to Korean blockchain news provider Blockchain ROK, newcomer exchange Pure Bit has effectively exit scammed with at least 13,000 in investor Ethereum in hand. As evidence of the scam, BROK points to the fact that the exchange’s CEO has changed his name on popular Korean social media network Kakao to “I’m sorry” in the
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A court in South Korea has ruled that the decision by a commercial bank to stop offering banking services to a cryptocurrency exchange was unlawful and must therefore be rescinded. According to the Central District Court’s 50th Civil Affairs Division, the move by South Korean commercial bank Nonghyup to cease offering deposit and withdrawal services
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Three of South Korea’s largest cryptocurrency exchanges are expanding overseas. Upbit has launched a Singaporean crypto exchange with 156 coins and 221 trading pairs. Coinone has established a crypto exchange in Malta while Bithumb is planning to launch a security token platform in the U.S.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
One of South Korea’s largest crypto exchanges by trading volume, Bithumb, announced its partnership with U.S. fintech company Seriesone on Oct. 31.
Under the agreement, “Bithumb is investing in a Seriesone entity in South Korea to scale technical development and marketing,” Seriesone detailed, elaborating:
A South Korean district court has ruled that Nonghyup Bank, a major bank in the country, cannot block transactions to the account of cryptocurrency exchange Coinis based solely on the government’s anti-money laundering guidelines. This is reportedly the first time a Korean crypto exchange has taken legal action against a bank for blocking its transactions.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The 50th Civil Affairs Division of the Seoul Central District Court has ruled in favor of cryptocurrency exchange Coinis against Nonghyup Bank, local media reported.
Bitstamp has confirmed that it has been acquired by a European subsidiary of a South Korean corporation. Nejc Kodrič will remain the CEO of the exchange. The Korean group also owns gaming giant Nexon and Korbit, the country’s fourth largest crypto exchange.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The oldest remaining and largest cryptocurrency exchange in Europe, Bitstamp, announced on Monday that it has been acquired by Belgium-based investment company NXMH, a subsidiary of South Korea-based NXC Corp.
In a blog post, Bitstamp CEO Nejc Kodrič wrote:
North Korean cybercrime hacking group The Lazarus Group is currently the biggest crypto hacking syndicate in the world, having stolen millions worth of cryptocurrencies from online exchanges. Also known as HIDDEN COBRA, which works at the behest of the North Korean government, the Lazarus Group has been responsible for some of the world’s largest cyber attacks including the Sony hack in 2014, the Wannacry ransomware outbreak, military espionage and a number of attacks on South Korean businesses.
Even though blockchain technology has all sorts of security applications, one thing is for sure: cryptocurrency exchanges are vulnerable to cybersecurity attacks, and hackers have exploited these flaws for massive gains. However, no hacker crew has been quite as successful as the infamous North Korean group of hackers, dubbed “Lazarus,” which is responsible for the
The post $ 571 Million: Notorious North Korean Hacker Group Has Stolen a Fortune in Cryptocurrency appeared first on CCN
The South Korean government is expected to announce its position on initial coin offerings in November, according to a high-ranking official. The decision will follow the outcome of the survey which the country’s Financial Supervisory Service recently sent out to domestic blockchain companies.
Also read: RBI Argues Supreme Court Should Not Interfere With Its Crypto Decision
Hong Nam-ki, Chief of the Office for Government Policy Coordination, conveyed during a parliamentary audit on Thursday that “The Korean government is likely to announce its stance on the much–disputed status of initial coin offerings [ICOs] in November,” the Investor reported.
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The post Korean Energy Trading Giant ‘STX Corporation’ Enters the Cryptocurrency Market with ‘Hanminer’ SHA256 Miners appeared first on CCN
Bithumb, once the 7th largest crypto exchange by trading volume, has reportedly sold a 38% ownership stake to a blockchain consortium based in Singapore for 400 billion won ($ 350 million). According to a breaking report by Coindesk, Bithumb’s BTC Holdings Company confirmed the sale Thursday to BK Global Consortium, a blockchain investment firm formed by Kim Byung Gun, […]
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The largest crypto exchange in South Korea by trading volume, Bithumb, has launched two cryptocurrency market indices. One tracks all coins listed on the exchange while the other tracks only altcoins. Meanwhile, Upbit, the country’s largest crypto exchange by the number of coins listed, has two similar indices and sub-indices divided into three broad categories.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Bithumb announced Wednesday the launch of Bithumb Crypto Index (BTCI) which comprises two separate indices.
The exchange detailed:
A lawsuit has reportedly been filed in South Korea against a local cryptocurrency exchange over its price-pumping schemes involving token issuance. The suit alleges that Cashierest’s token which pays dividends and rebates transaction fees to investors violates the country’s capital markets law.
Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals
South Korean law firm Aone filed a complaint with Seoul Central District Court on Oct. 5 against Newlink Co. Ltd., the owner of crypto exchange Cashierest, according to local media. Lawyer Kim Dong-joo at Aone’s Seocho branch explained that his firm is pursuing charges against the crypto exchange for deviating from the public interest in order to restore the health of the cryptocurrency market, Zdnet Korea conveyed.
Korean lawmakers are increasingly pushing for the regulation of initial coin offerings (ICOs) with multiple bills currently pending at the National Assembly. This includes a proposed amendment to the Electronic Financial Transactions Act. Meanwhile, the Korean Blockchain Association has also come up with its own set of guidelines for crypto exchanges and ICOs.
Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals
It has been about a year since initial coin offerings (ICOs) were banned in South Korea, but the government has yet to introduce a set of guidelines for them.
