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South Korean Politician: North Has Stolen USD 310M in Crypto Since 2019
6.7.2021
A senior South Korean opposition politician has claimed hackers from the North have raided South Korean crypto wallets to the tune of almost USD 310m over the past two years.
According to Chosun, Ha Tae-keung, the former head of the New Conservative Party and currently an MP for the main opposition...
South Korean Shinhan Bank joins Klaytn’s blockchain governance council
5.7.2021
Apart from participating in the co-governance process of Klaytn, Shinhan Bank will also be involved in the development of Klaytn-based digital services
8,000 BTC Belonging to Mirror Trading International Traced, Investors Urged to Lodge Claims
5.7.2021
A total of 8,000 bitcoins belonging to Mirror Trading International (MTI) have been traced while an additional 29,000 bitcoins could soon meet a similar fate. The traced coins, which are valued at over $280 million (4 billion rand), represent a potential breakthrough for beleaguered MTI investors....
Bitcoin Miner Greenidge Generation Plans to Develop South Carolina Mining Facility
4.7.2021
On Friday, the bitcoin mining operation Greenidge Generation Holdings announced the company is expanding to South Carolina in order to develop the firm’s next bitcoin mining facility. Greenidge details that the carbon-neutral Spartanburg facility will be ready in 2021 or early 2022. Bitcoin...
South African Court Grants Final Liquidation Order Against the ‘Biggest Cryptocurrency Scam in 2020’
3.7.2021
A South African judge, Justice Alma de Wet, has ruled in favor of granting a final liquidation order against Mirror Trading International (MTI), the country’s biggest bitcoin scam in the past year. Nevertheless, the judge postponed a ruling on an application by MTI liquidators to have...
South Korean Crypto Exchange Bithumb Bans Employees from Trading Bitcoin
3.7.2021
One of the largest South Korean cryptocurrency exchanges, in terms of trade volume, Bithumb, has announced that employees are banned from trading bitcoin on the exchange platform. The company’s chief executive officer revealed the decision in a Bithumb newsletter focused on improving...
South Korean Crypto Exchange Execs Arrested Amid USD 2B Fraud Fears
3.7.2021
Police in South Korea said they fear that the crypto exchange V Global could be at the center of a fraud network that has sucked in some USD 2bn, as investigations into the platform intensify and police officers raided the exchange’s offices.
Per Seoul Shinmun and Hankook Ilbo, police claim that...
Greenidge plans to expand mining operations to South Carolina
2.7.2021
According to the crypto mining firm, the South Carolina facility has been capable of drawing 80 megawatts of power, two thirds of which is produced from zero carbon energy sources
Bithumb to ban employees from trading crypto on its platform
2.7.2021
After introducing staff-related trading restrictions a while ago, Bithumb will soon completely ban its employees from using its platform to trade crypto
South Korea’s 4 Biggest Crypto Exchanges to Adopt FATF’s Travel Rule
2.7.2021
The “big four” South Korean crypto exchanges have signed a Memorandum of Understanding (MOU) deal that will see them jointly implement the Financial Action Task Force (FATF)’s Travel Rule.
The group of exchanges, which comprises the market-leading Upbit and Bithumb, as well as Korbit and Coinbit...
Latin America’s Mercado Bitcoin exchange raises $200M from SoftBank
1.7.2021
2TM GRoup, the company behind Mercado Bitcoin, is now valued at $2.1 billion. It's the second crypto exchange in Latin America to eclipse the $1 billion valuation mark
South African Regulators Reportedly Fast-Tracking Crypto Regulatory Framework
1.7.2021
With South Africa receiving more than its fair share of cryptocurrency-related scams, a report suggests that regulators are responding to this challenge by fast-tracking the process of creating a new regulatory framework. As a result, regulators now expect this process, which was preceded “by...
New South Korean Reality TV Show Follows Fortunes of Crypto Investors
1.7.2021
Source: A screenshot, Youtube/TVCHOSUN
A South Korean reality television show that focuses on crypto investors, bitcoin (BTC) enthusiasts and miners has debuted on screens across the nation.
The show, which aired for the first time this week on TVChosun, the television arm of the nation’s biggest...
Korean Crypto Exchanges Consider Suing Government Over Banking Requirements
30.6.2021
All cryptocurrency exchanges in South Korea except the largest four may be unable to meet the bank account requirements needed to stay in business. A number of Korean crypto exchanges are considering suing the government and financial authorities, claiming that the country’s crypto law...
Report: South Africa Bars Transfer of Locally Acquired Cryptocurrencies to Overseas Exchanges, Offenders Face Jail Time
29.6.2021
Fresh reports from South Africa suggest that the transfer of locally acquired cryptocurrencies to overseas crypto exchanges will now be subject to the country’s exchange control regulations. Consequently, transactions where an individual purchases crypto assets in South Africa and uses them...
South African asset manager denies stealing billions from users, claims $5M was lost in hack
29.6.2021
AfriCrypt’s founders deny running off with billions in customers funds, asserting they went into hiding after receiving death threats from “dangerous people.”
South Korean Crypto Exchanges Ready for Legal Fight Amid Closure Threats
28.6.2021
Source: Adobe/david_franklin
South Korean crypto exchanges are preparing lawsuits to sue the government or challenge it in the constitutional court if they fail to meet a September regulatory deadline and are obliged to close.
New regulations for crypto exchanges, which have already passed into...
Crypto exchanges could sue Korean gov't for ‘passing the buck‘ to banks
28.6.2021
With many crypto exchanges in South Korea now on a precipice as a new regulatory framework kicks in, some are threatening to sue the government over its alleged shirking of key responsibilities
Korean Banks to Be Relieved of Liability for Crypto-Related Crime, Report Suggests
28.6.2021
Banking institutions in South Korea have reportedly requested to not be held accountable for crimes linked to cryptocurrencies such as money laundering. According to local media, financial regulators are now developing rules that could relieve Korean banks from responsibility when screening...
Crypto-keen South Korean Thieves Raid GPUs from ‘Love Hotel’ PCs
26.6.2021
Criminals have hatched a fiendish plan to help them build up their token portfolios – by stealing graphics cards from PCs in South Korean “love hotels,” motels that cater to couples craving physical intimacy.
Love hotels can be found all over South Korea and across the sea in Japan – and provide...