South Korea Financial News

11.01 / 19:08

Binance coinbase Gaming genesis Today in Crypto: Coinbase to Close Down Most Japanese Operations, Voyager Granted Initial Approval to Sell Assets to Binance.US, Ledger Integrates 'Cometh Battle' Card Game

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

11.01 / 14:35

Legal Terra Drop US Investors Drop Terraform Labs Lawsuit

The American investment firm Albright Capital has pulled out of a class action lawsuit against Terraform Labs, the firm behind the Terra protocol and the Terra Luna Classic (LUNC) coin.

11.01 / 13:41

business Huobi clarifies Korean operations: Two separate entities aiming at same market

Following the report about Huobi Korea’s planned buyout of its shares from Huobi Global, the latter revealed that the deal has already been made, and the two platforms have been operating completely separately since the Fall of 2022.

11.01 / 01:31

business Blockchain Stablecoin Fraud Albright Capital drops lawsuit against Terraform Labs and Do Kwon

Albright Capital has dropped its lawsuit against Terraform Labs and its founder Do Kwon, according to a Notice of Voluntary Dismissal filed in U.S. District Court on January 9. Before its dismissal, the lawsuit had alleged that the company had violated the Racketeer Influenced and Corrupt Organizations Act (“RICO”) by operating the stablecoin, UST, as a “Ponzi scheme.”

10.01 / 17:03

business regulation Fraud South Korean regulators target Bithumb in new probe

The South Korea-based cryptocurrency exchange Bithumb is under a “special tax investigation” by the country’s National Tax Service (NTS), according to local reports.

10.01 / 14:43

Tax Bithumb Crypto Exchange Bithumb Hit With Tax Investigation, Prosecutors Grill ‘Major Shareholder’

The South Korean crypto exchange Bithumb has been hit with a double whammy from the South Korean tax and legal authorities – with the exchange made the subject of a “special” tax investigation. And prosecutors have summoned its suspected largest shareholder for questioning.

09.01 / 22:49

business Huobi Korea seeks to split from parent company, change its name: Report

Local media reported Jan. 9 that cryptocurrency exchange Huobi Korea is preparing to purchase its shares from Huobi Global and change its name. About 72% of shares in Huobi Korea are owned by Huobi Global cofounder Leon Li. Huobi Korean chairman Cho Kook-bong would take over Li’s share in the Korean company. Cho is also the owner of a major crypto mining operation in the country, according to local outlet News1.

09.01 / 19:09

Hack North Korean Crypto Hacks to ‘Surge’ This Year, Say Experts

A “surge” in North Korean crypto hacks is on its way in 2023, a security provider has claimed.

09.01 / 19:09

Binance Microsoft SEC TON Today in Crypto: Traders at an Institutional Crypto Firm Targeted by Hackers Since July 2022, Huobi Korea to Reportedly Cut Ties with Huobi Global

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

09.01 / 16:33

business Blockchain Deaths Crypto billionaires' subsequent deaths spark wild theories among the community

The death of four crypto billionaires within a month has caught the crypto community's attention. These deaths occurred under suspicious circumstances, and more importantly, some of these billionaires have raised alarms about being in danger.

09.01 / 09:27

movie Scams Nifty News: Fake Pokémon NFT game spreads malware, ‘Jai Ho’ singer to launch metaverse and more

A phishing website purporting to offer a Pokémon-branded nonfungible token (NFT) card game has been spreading malware to unsuspecting gamers, a cybersecurity firm has warned.

06.01 / 17:41

UPS Platform LG Electronics Steps up Smart TV-Metaverse Drive

The South Korean tech titan LG Electronics has announced that it will intensify its metaverse activities. And the firm claims that a new deal will allow it to bring Web3 and metaverse experiences to owners of its smart TVs.

05.01 / 00:29

business Blockchain Technology Metaverse LG Electronics' latest partnership seeks to bring interoperable metaverse platforms to TVs

South Korean tech giant LG Electronics announced that it has teamed up with Oorbit, a cloud-based technology platform and PIXELYNX, a company building an integrated music, gaming, and Web3 ecosystem, to bring the metaverse directly into the living rooms of viewers.

04.01 / 13:55

Legal Crypto Exchange Jail South Korean Prosecutors Fail in Bid to Jail Ex Bithumb Boss

South Korean prosecutors have been thwarted in their efforts to send the former head of the crypto exchange Bithumb to prison for eight years.

03.01 / 19:17

Binance Gaming Legal Today in Crypto: Ukrainian Pharmacy Partners with Binance to Offer Crypto Payments, Sushi Shutting Down Two Products

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

03.01 / 13:53

Provident FIVE Binance Deal GoPax Binance Reportedly Close to Sealing Deal for South Korean Exchange Gopax

Binance is allegedly close to sealing a deal to buy a majority stake in the South Korean crypto exchange Gopax – per multiple domestic media reports. Outlets are claiming that the deal has been agreed in principle. But they note that a few final remaining legal and procedural hurdles still need to be cleared before the deal can be made official.

03.01 / 11:41

business regulation Fraud Terra Luna Lee Bithumb former chair Lee Jung-Hoon acquitted in the first instance

Lee Jung-hoon, the former chair of the South Korean cryptocurrency exchange Bithumb, was found not guilty on Jan. 3 by the 34th Division of the Criminal Agreement of the Seoul Central District Court.

03.01 / 00:57

regulation saga New year, same old troubles — The FTX saga continues in 2023: Law Decoded, Dec. 26-Jan. 2

Although having been granted the opportunity to enjoy Christmas and the New Year with his family, former FTX CEO Sam Bankman-Fried has very few reasons for optimism in 2023. The United States Department of Justice has launched an investigation into the whereabouts of approximately $372 million in missing digital assets from FTX and its U.S.-based subsidiary, FTX US. According to SBF, the incident was perpetrated by either a former FTX employee or someone who had unauthorized access to a former employee’s computer.

31.12 / 01:03

business Blockchain Technology Investments Executive Bithumb’s largest shareholder executive found dead following allegations of embezzlement

Mr. Park Mo, the vice president of Vidente, the largest shareholder of South Korean Cryptocurrency exchange Bithumb,was reportedly found dead in front of his home at 4 am, on the morning of Dec. 30.

29.12 / 14:01

Hack South Korean Hacker Stole $6.7m from Dead CEO’s Crypto Wallets

A South Korean hacker stole $6.7 million from crypto wallets belonging to the deceased CEO of a business empire that included the crypto exchanges Korbit and Bitstamp.

28.12 / 18:15

business Government Scams us government Department Scammers impersonate US State Department, claiming to help affected FTX users

As the FTX collapse left many users yearning for the return of lost funds, scammers are using the opportunity to take advantage of the already injured victims, posing as government officials.

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