WASHINGTON, Jan. 2 (Korea Bizwire) — South Korean crypto mogul Kwon Do-hyeong could face up to 130 years in prison if he is convicted of all fraud and other charges, the U.S. Justice Department said Thursday, as he made his initial appearance in a New York court and pleaded not guilty to those charges. Kwon, [...]
ROME, Aug. 1 (Korea Bizwire) — A Montenegrin appeals court ruled Thursday that South Korean crypto entrepreneur Do Kwon should be extradited to his home country, a decision that allows for him to face trial back home over a massive crypto crash. The appeals court announced on its web page that it finalized the Podgorica [...]
ROME, Apr. 24 (Korea Bizwire) — Montenegrin lawyers of disgraced South Korean crypto entrepreneur Do Kwon are struggling to have him extradited to his home country, not the United States, according to local news reports. Kwon’s legal representatives in Montenegro appealed against the Podgorica High Court’s recent ruling that found the conditions for his extradition [...]
SEOUL/ROME, March 22 (Korea Bizwire) — Montenegro prosecutors have appealed a recent court ruling for the extradition of disgraced crypto mogul Do Kwon to his home country of South Korea to face trial on charges connected to the crash of cryptocurrencies. Kwon, the co-founder of the cryptocurrency firm Terraform Labs, is wanted both by South [...]
SEOUL, May 24 (Korea Bizwire) — South Korea will intensify global cooperation to better regulate the crypto asset market amid growing worries over excessive volatility demonstrated in the recent collapse of TerraUSD and Luna cryptocurrencies, a senior government official said Tuesday. The crash of TerraUSD, known as a “stablecoin,” and its sister coin Luna caused [...]
SEOUL, May 18 (Korea Bizwire) — The shocking implosion of the TerraUSD and Luna cryptocurrencies threw many young investors into a panic, some of them saying their entire assets were blown up or even leaving suicidal messages. In a crash starting a week earlier, the once bullish TerraUSD and sister coin Luna had lost almost [...]
SEOUL, May 17 (Korea Bizwire) – South Korea’s financial authorities have launched “emergency” inspections into domestic cryptocurrency exchange operators to enhance investors’ protection after the recent collapse of the TerraUSD and Luna cryptocurrencies, sources said Tuesday. The move came after TerraUSD and its sister coin Luna tumbled, causing massive losses to investors and sending shockwaves [...]
SEOUL, May 16 (Korea Bizwire) — South Korean game companies with products featuring virtual coins and other blockchain functionalities remain on heightened alert over adverse effects from the recent collapse of the TerraUSD and Luna cryptocurrencies, industry officials said Monday. Cryptocurrencies operated by South Korean gaming companies for in-game purchases and trading have undergone volatile [...]
SEOUL, Oct. 6 (Korea Bizwire) – Smartphone companies and mobile carriers are targeting niche customers that are price-sensitive but seeking high-quality products. These lower-cost premium smartphones usually sell in the price range between 600,000 won ($540) and 700,000 won, roughly 300,000 won less than conventional premium smartphones such as the Galaxy Note 7 or LG’s [...]
SEOUL, Jan.18 (Korea Bizwire) – SK Telecom announced that it will start accepting reservations for its new private-label smartphone called Sol, which will be released on January 22. The phone will sell for as little as 19,800 won. Sol is a private-label product of SK Telecom, and is manufactured by China’s TCL Alcatel. It is [...]