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South Korean Government, Prosecution Turn up the Heat on Do Kwon and Terraform
20.5.2022
South Korean lawmakers and financial regulators are taking aim at Do Kwon (full name Kwon Do-hyeong) and his firm Terraform Labs.
Following the news that three or more separate civil legal cases – each potentially involving hundred of South Korean terra (LUNA) investors – have already been...
South Korean LUNA Buying Skyrockets, Token Trading at Huge Premium on Domestic Exchanges
19.5.2022
While some furious South Korean crypto investors are readying multiple lawsuits for Do Kwon and the masterminds of the troubled terra (LUNA) protocol, others in the country are snapping up LUNA tokens at rock-bottom prices – even though the coin is currently being delisted from most major...
South Korean watchdog reportedly fines Terraform Labs $78M for tax evasion
19.5.2022
According to South Korean corporate tax laws, foreign-registered companies are treated as domestic if the decision-making process and operations are carried out from the country
South Korean legislature considering new licensing system for crypto
18.5.2022
Regulators in South Korea have issued a new report that offers a bevy of recommendations for how to properly govern the country’s crypto industry
South Korea Launches ‘Emergency’ Investigation Into Collapse of LUNA and UST
18.5.2022
South Korea’s top financial regulators have launched an emergency investigation into the collapse of cryptocurrency LUNA and stablecoin UST. The authorities have asked domestic cryptocurrency exchanges to provide information relating to transactions and investors of the two coins. South...
Terra Community Plans to Vote on Forking the Chain — Launch May Airdrop a Billion New Tokens to Network Participants
17.5.2022
Following the aftermath of Terra’s UST implosion, the blockchain project’s founder Do Kwon has been actively discussing the Terra ecosystem revival plans and one specific proposal will be voted on May 18. The plan is to fork the blockchain into a new chain that does not include...
South Korean Financial Regulators Begin Terra Probes, Politician Calls for Kwon to Face Parliamentary Hearing
17.5.2022
The Terraform Labs mastermind Do Kwon (real name Kwon Do-hyeong) could be facing trouble from financial and law enforcement authorities in South Korea and Singapore as a torrid month for the Terra (LUNA) platform just keeps getting worse.
Following reports that Kwon appears to have dissolved...
South Korean Banks Earned USD 31M in Crypto Transaction Fees Last Year
17.5.2022
Three South Korean banks earned USD 31.2m from their crypto exchange partnership deals in 2021, new data has revealed – suggesting that partnering with trading platforms could be paying off for the often-cautious domestic banking sector....
Read More: South Korean Banks Earned USD 31M in Crypto...
Terra's Do Kwon Liquidated the South Korean Arm of Terraform Before LUNA & UST Crisis
16.5.2022
New reports fuelled speculations that Do Kwon (real name Kwon Do-hyeong) may have been aware of a storm brewing for the terra (LUNA) platform – and that the Terraform Labs mastermind may have taken action to dissolve domestic parts of his company as early as last month in anticipation....
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South Korean Court Gains Support from Exchanges in Bid to Include Crypto in Bankruptcy Cases
12.5.2022
South Korea’s judiciary is set to include crypto holdings in lists of debtors’ assets in bankruptcy cases – and the nation’s leading crypto exchanges have agreed to cooperate with courts on the matter....
Read More: South Korean Court Gains Support from Exchanges in Bid to Include Crypto...
Brace for More S Korean Altcoins as President-Elect Prepares to Ditch ICO Ban
5.5.2022
South Korea’s President-Elect Yoon Suk-yeol has indicated he is ready to come good on some of the crypto-related campaign promises that helped him win power earlier this year – and could end an initial coin offering (ICO) ban that dates back to 2017....
Read More: Brace for More S Korean...
Report: Two South Koreans Paid in Bitcoin to Spy for North Korea
4.5.2022
South Korean law enforcement recently announced the arrest of a serving military captain and an operator of a cryptocurrency exchange on charges of spying for a North Korean hacker. In return for the acts of espionage, the two South Korean individuals were allegedly paid bitcoins worth a total...
South Korean Crypto Exchanges Resume Service as Usual after Travel Rule Breakthrough
28.4.2022
South Korea’s biggest crypto exchanges have finally linked their rival Travel Rule solutions – over a month after a new law that requires trading platforms to abide by the protocol came into force.
As previously reported, the Financial Action Task Force (FATF)’s measure, which requires...
South Korean Music Sharing Platform Registers NFT Music Theft Prevention Patent
27.4.2022
A South Korean music sharing platform, Koong World, recently announced the registration of a non-fungible token (NFT)-based music theft prevention patent. Using this patent, the music sharing platform aims to “solve the problem of copyright protection in the rapidly growing music...
US Charges Ethereum Dev’s Conspirators Allegedly Helping North Korea Evade Sanctions Using Crypto
26.4.2022
Two European citizens have been charged for conspiring with Ethereum developer Virgil Griffith to help North Korea evade U.S. sanctions using cryptocurrency, the Department of Justice (DOJ) announced. They conspired “to teach and advise members of the North Korean government on cutting-edge...
Samsung Participates in Series A Round That Raised $25 Million for a Metaverse Startup
25.4.2022
A Korean metaverse startup, Doubleme, is said to have raised $25 million in a Series A round that saw the leading South Korean electronics manufacturer Samsung Electronics take part. Capital Raised to Fund Marketing Efforts The South Korean electronics and smartphone maker Samsung is reported...
US Treasury’s OFAC Adds 3 ETH Addresses Linked to North Korean Cybercrime Group to SDN List
24.4.2022
The Office of Foreign Asset Control (OFAC) has added three ethereum addresses to its Specially Designated Nationals And Blocked Persons List (SDN). OFAC alleges the ether addresses are controlled by the Lazarus Group, a cybercrime group that is associated with North Korea. Lazarus Group Behind Axie...
More Big-hitting South Korean Non-crypto Firms Eyeing Token Launches
20.4.2022
Yet more big-hitting South Korean companies from outside the crypto sector are beginning to branch out into crypto-related business – with the e-commerce giant TMon and the KOSDAQ-listed hotel chain Ananti making moves on the token issuance front....
Read More: More Big-hitting South Korean...
FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms
19.4.2022
On April 18, the Federal Bureau of Investigation (FBI), the U.S. Treasury Department, and the Cybersecurity and Infrastructure Security Agency (CISA) published a Cybersecurity Advisory (CSA) report concerning malicious North Korean state-sponsored cryptocurrency activity. According to the U.S....
FBI and CSIA issue alert over North Korean cyberattacks on crypto targets
19.4.2022
The cybersecurity agency believes that the threat from North Korean hackers will not go away unless crypto firms take necessary but simple steps to ensure their security