South Korea Financial News

19.11 / 08:05

business regulation Court investigation Terraform Labs South Korea seizes $104M from Terra co-founder suspecting unfair profits

While crypto exchange FTX stole the limelight from other fallen ecosystems, South Korean authorities continue their efforts to bring closure to the victims of the year’s first crypto crash — Terraform Labs. Nearly six months after the Terra (LUNA) blockchain was officially halted, South Korean authorities froze approximately $104.4 million (140 billion won) from co-founder Shin Hyun-seong based on suspicion of unfair profits.

18.11 / 13:49

FIVE Platform Bitcoin 1 in 5 South Koreans Still Investing in Crypto – Which Coins Are They Trading?

A new survey has found that around one in five South Koreans are still investing in crypto – in spite of the collapse of the FTX exchange and the downturn in global markets.

18.11 / 09:33

LUNC Terra Luna Classic Terra Luna Classic Price Prediction as LUNC Sees $100,000,000 Trading Volume Come In

Terra Luna Classic price prediction is bearish; however, buyers still have hope for a bullish reversal above $0.000169, a support level extended by an upward trendline. The cryptocurrency market has recently been harsh to investors, with most cryptocurrencies unable to produce gains.

17.11 / 14:05

Binance Digital Crypto Exchange services GoPax South Korean Crypto Exchange Gopax Services Hit by Genesis Disruption

Crypto chaos is finally taking its toll on South Korean exchanges – with the crypto investment bank Genesis’ decision to pause redemptions and new loan offerings earlier this week disrupting services on the Gopax trading platform.

16.11 / 21:35

business Stablecoin Fraud Terraform Labs audit Terra Labs, Luna Guard commission audit to defend against allegations of misusing funds

The Luna Foundation Guard (LFG) and Terraform Labs (TFL) commissioned a technical audit of their efforts to defend the price of TerraUSD (UST) between May 8 and 12, 2022. The audit was intended to answer “allegations posed in social media” about the fate of funds transferred during efforts to defend the UST dollar peg, according to the LFG blog.

16.11 / 19:17

Binance Bitfinex Gaming Financial News Summary: SBF May be Brought to US for Questioning, FTX Australia’s Financial License Suspended, FTX Bahama-based Subsidiary Files for Bankruptcy

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

16.11 / 17:39

Police crypto mining South Korean Police Probe Crypto Mining Outfit on ‘Ponzi Scam’ Suspicions

South Korean police officers are investigating a crypto mining firm that allegedly failed to pay back its investors – after promising them monthly returns of up to 12%.

16.11 / 13:33

Provident regulation guidelines South Korean Regulator Set to Launch Crypto Auditing Guidelines

South Korea’s financial regulator has revealed that it wants to introduce auditing guidelines for crypto-related firms – in response to the Terra-LUNC “incident” and the fall of FTX.

15.11 / 22:17

business Blockchain Technology DEX Costs 1inch seeks to optimize gas costs with its new v5 router

According to 1inch, users' gas costs for swaps will be at least 10% lower than its previous offerings in the DEX segment, thereby, making swapping activity on the Ethereum network more profitable for its users. In the Router v5, 1inch estimated that swaps will be approximately 5% more gas efficient than in the previous version, and 10% more gas efficient, compared to the second best performing player in the DEX segment.

15.11 / 15:17

UPS BTC Platform Bitcoin safe Could South Korean Crypto Exchanges Be Safe from Bankruptcy Risk?

With some of the biggest names in the crypto exchange game apparently teetering on the cusp of bankruptcy, attention in South Korea is turning to domestic trading platforms. And some are suggesting that the nation’s sector may be safe from insolvency – at least for the time being.

15.11 / 00:33

Law regulation Terraform Labs Terra South Korean prosecutors call on Terra co-founder Shin Hyun-seong to cooperate: Report

Authorities in South Korea have reportedly requested Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, to appear as part of an investigation into the collapse of the firm.

14.11 / 17:35

UPS Citi Fraud South Korean Stablecoin Fraudster Aged-60+ Jailed for Six Years

Crypto fraud continues to escalate in South Korea – where a scammer aged over 60 has been given a six-year jail term for duping victims into investing in a sham stablecoin.

14.11 / 11:05

Blockchain Provident Digital ARGOS ID Presents the World’s First Travel Rule Solution for Unhosted Wallets

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

09.11 / 23:15

NFT Opensea NFT trademark filings grow in 2022: Nifty Newsletter, Nov. 2–8

In this week’s newsletter, read about how trademark applications for nonfungible tokens (NFTs) and the metaverse have grown in the United States. Check out how NFT marketplace OpenSea has launched a tool that can enforce NFT royalties on-chain and how the Chinese city of Wuhan backpedaled on its NFT plans while still pursuing the growth of metaverse economies.

09.11 / 14:07

Target BLOCK South Korean Academic: We Must Block North from Hacking Crypto

A South Korean academic has claimed that Seoul must take steps to stop Pyongyang from hacking crypto targets south of the demilitarized zone – as tensions escalate between North Korea and its southern neighbor.

09.11 / 01:35

regulation sanctions US Treasury redesignates Tornado Cash sanctions, citing North Korea nuclear weapons program

The United States Treasury Department's Office of Foreign Asset Control, or OFAC, has amended the sanctions on cryptocurrency mixer Tornado Cash in addition to including two individuals involved in “transportation and procurement activities” for the Democratic People’s Republic of Korea in its list of Specially Designated Nationals.

08.11 / 13:59

Blockchain Digital NFT LG ‘Ready to Make NFT Push’ as it Seeks Blockchain-savvy CTOs

LG Electronics has announced it wants to hire two new Chief Technical Officers (CTOs) to lead its Web3 and blockchain technology operations – just months after registering a trademark for a crypto wallet. Digital Today reported that it was highly “likely” that the new hires would be tasked with leading the firm’s expansion into the non-fungible token (NFT) sector.

08.11 / 09:39

European Union CLIMATE CRISIS United Nations Ukraine war: North Korea denies claims it sent artllery shells to Russia

North Korea has denied American claims that it's shipping artillery shells and ammunition to Russia for use in its war against Ukraine, and on Tuesday accused the United States of lying.

08.11 / 07:51

applications Marketplace DLT Nifty News: Royalty-enforcing NFTs a 'new asset class,' South Korea buys NFTs with CBDC, and more

Jack Lu, the CEO of Solana-based nonfungible token (NFT) marketplace Magic Eden has floated the idea of NFTs designed to enforce royalties.

08.11 / 07:11

business Technology Law Bitcoin Countries ignoring crypto AML rules risk placement on FATF's 'grey list' — Report

Countries failing to adhere to anti-money laundering (AML) guidelines for cryptocurrencies could find themselves added to the Financial Action Task Force’s (FATF's) “grey list."

07.11 / 17:03

UPS Digital Cooper boost Cross-border e-CNY S Korea Claims Cross-border CBDC Success, Chinese Bank Chief Says e-CNY Will Boost Trade

East Asia could become the central bank digital currency world’s center of gravity – with major cross-border functionality advances on the cards in China and South Korea.

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