Tag Archives: south korea

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up The recent kidnapping and murder of a woman in Seoul, South Korea (the nation’s capital city) has turned up some new evidence. Police investigating the matter believe the woman may have been involved in various crypto-related disputes, and that her attacker was associated and hired by the opposing party. Why Is...

South Korean prosecutors have reportedly raided the offices of the two leading cryptocurrency exchanges in the country – Upbit and Bithumb – as part of an ongoing investigation against Kim Nam-kuk.  The politician faced public scrutiny after several reports indicated he acquired 800,000 Wemix tokens by bypassing necessary regulations. He transferred the coins from Bithumb to Upbit last year, and the authorities suggested the platforms could have been involved somehow.  The...

Kim Nam-kuk – a South Korean lawyer and politician – will reportedly sell his cryptocurrency holdings amid a conflict of interest that surrounds his stash.  The Democratic party (DP), which he is part of, will also launch an investigation to determine whether he complied with local requirements when acquiring the tokens.  Inspection Could Reach Other Members of the Party According to a local media outlet, the DP urged Nam-kuk to sell his approximately 800,000 Wemix coins...

A South Korean District Court has declared that LUNA, the native token of the Terra ecosystem, is not a security. The court also dismissed prosecutors’ requests to confiscate properties belonging to Singapore-based Terraform Labs co-founder Shin Hyun-Seong, and also arrest him along with other executives of the Singapore-based project. LUNA Is Not a Security Token The Seoul Southern District Court categorically stated that LUNA is not considered a security, according to a...

The infamous co-founder of Terraform Labs has reportedly lost his bid against the US Securities and Exchange Commission (SEC). The latter is now allowed to seek records from the Monetary Authority of Singapore (MAS) that could shed more details on how the 31-year-old developer managed Luna Foundation Guard and whether he had a hand in last year’s LUNA/UST collapse. Numerous agencies, watchdogs, and prosecutors alleged Kwon was the main culprit of the multi-billion crash. He...

Hackers drained almost $13 million worth of digital assets from the South Korean cryptocurrency platform GDAC. This is the latest in a string of setbacks the industry went through. The Latest Victim The exchange’s team notified its users on April 9 that hackers exploited the Gdac Hot Wallet and transferred a significant amount of cryptocurrencies to an unidentified wallet.  They stole over 60 BTC, 350.5 ETH, 10,000,000 WEMIX, and 220,000 USDT (which accounted for around 23%...

Messari – a leading provider of blockchain research and data analysis based in South Korea – added its name to the long list of crypto-focused companies that axed their workforce due to the harsh macroeconomic environment. It laid off 15% of its staff, believing this was the right step for the long run. Ryan Selkis – Founder and CEO of Messari – announced the news on Twitter, asserting that the company will help departing employees with their transition to other...

South Korea’s “Kimchi Premium” – a metric showing crypto’s price difference in global exchanges and such located in the Asian nation – went into a discount territory for the first time since January 18. This indicates that buying digital assets, such as bitcoin, is cheaper on Korean platforms than on Binance or other leading players, usually meaning that local users’ interest has declined. Flipping to Discount The “Kimchi Premium” – a phenomenon bearing the name of a...

The South Korean authorities reportedly issued an arrest warrant to a former Chief Executive Officer of the e-commerce giant TMON. He supposedly accepted bribes in Terra (LUNA) worth billions of won to promote the infamous blockchain project. Terra Keeps Splashing the Water As reported by a local media outlet, an ex-boss of the Korean e-commerce company TMON was slapped with an arrest warrant due to his interaction with the collapsed cryptocurrency project Terraform Labs....

A group of South Korean officials reportedly arrived in Serbia last week to look for the infamous Do Kwon. The 31-year-old has been on the run since the collapse of his blockchain protocol Terra. The latter’s native token – LUNA – and algorithmic stablecoin – UST – plunged to essentially zero last year, affecting numerous investors and the entire cryptocurrency market. As covered by Bloomberg, a team of South Korean authorities, along with a senior Justice Ministry official,...