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Korean Crypto Exchanges Begin Compensation Process for Martial Law Service Disruption

SEOUL, Dec. 10 (Korea Bizwire) – Major South Korean cryptocurrency exchanges have initiated compensation procedures for service disruptions that occurred during the December 3 martial law crisis. The exchanges are accepting compensation claims to minimize investor losses caused by access problems and delayed transactions, with some already having completed partial reimbursements. According to industry sources, leading exchanges [...]

N. Korean Hackers Steal US$3 Bln in Cryptocurrency since 2017 to Fund Nuclear Program: Report

SEOUL, Oct. 17 (Korea Bizwire) — North Korean hackers have stolen an estimated US$3 billion worth of cryptocurrency since 2017, using the funds to support the regime’s nuclear and missile programs, a Microsoft report showed Thursday. Of that amount, between $600 million and $1 billion was stolen just last year, based on Microsoft’s Digital Defense [...]

N. Korea Stole US$700 mln of Crypto in 2022: NIS

SEOUL, July 19 (Korea Bizwire) — North Korea stole a total of US$700 million worth of cryptocurrency last year, equivalent to the money that would enable the country to fire 30 intercontinental ballistic missiles, South Korea’s state intelligence agency said Wednesday. “We’ve confirmed that North Korea took $700 million in virtual assets in two separate [...]

Most Powerful Cryptocurrency Miners at Promo Offer

NEW YORK, June 9 (Korea Bizwire) — Following its recent success, Bitmanu is pleased to announce a 3 Plus 1 promotional offer for its suite of ASIC miners. The company’s BM 1, BM 2, and BM Pro miners have already made a strong impact on the market with their unmatched hash-rates. The just launched promotion will continue [...]

Supercar Rental Company Classic Parade Launches UK’s First Cryptocurrency Payment Service

LONDON, Feb. 21 (Korea Bizwire) — One of the UK’s leading supercar hire companies has just launched a cryptocurrency payment system to rent the world’s most impressive supercars. Customers can now choose to pay to for selection of over 100 supercars from 28 luxury marques in Bitcoin or Ethereum cryptocurrency as well as in Pound Sterling. One [...]

20 Indicted for Moving 4 tln Won Overseas for Cryptocurrency ‘Kimchi Premiums’

SEOUL, Jan. 18 (Korea Bizwire) — Prosecutors have indicted 20 people on charges of illegally remitting about 4 trillion won (US$3.2 billion) worth of funds overseas to buy cryptocurrencies abroad and sell them back in South Korea at a premium, officials said Wednesday. The Seoul Central District Prosecutors Office, in collaboration with the Seoul branch [...]

Deceased Nexon Founder’s Cryptocurrency Account Hacked

SEOUL, Dec. 29 (Korea Bizwire) — The cryptocurrency account of Kim Jung-ju, the deceased founder of gaming giant Nexon Co., was hacked, resulting in the loss of more than 8.5 billion won (US$6.7 million), court documents showed Thursday. The Seoul Eastern District Court convicted a 39-year-old man, whose identity has been withheld, for illegally copying [...]

Wemade CEO to Take Legal Action Against Looming Delisting of Its Crypto Wemix

SEOUL, Nov. 25 (Korea Bizwire) — Chang Hyun-guk, CEO of Korean game publisher Wemade Co., said Friday that he will take legal action against the recent decision to delist its cryptocurrency Wemix from major crypto exchanges in South Korea. The move came a day after the Digital Asset eXchange Association — an alliance formed by [...]

Flash News: OKX Offers Support for BNB Smart Chain and Aptos Network

VICTORIA, Seychelles, Oct. 12 (Korea Bizwire) – OKX, the world-leading cryptocurrency platform, has offered updates for the week beginning October 10, 2022. OKX now supports BNB Smart Chain (BEP20) network hard fork OKX now supports the Ethereum hard fork and upgrade, which took place at the block height of 22,107,423, or approximately at 08:00 am UTC [...]

FSS Probe Found 10 tln Won Involved in Abnormal Overseas Money Transfers

SEOUL, Sept. 22 (Korea Bizwire) — South Korea’s financial regulator said Thursday that it has found around 10 trillion won (US$7.22 billion) worth of dubious funds sent abroad via local banks in transactions suspected of being linked to cryptocurrency markets. The Financial Supervisory Service (FSS) said that it has conducted a probe in which it [...]