NongHyup Bank revealed that the leading banks in South Korea, including Industrial Bank of Korea, Shinhan Bank, and Woori Bank, have joined its consortium for security token offerings. The consortium has also witnessed the participation of other financial technology companies such as Funble,...
In a startling turn of events, a former executive at Coinone, one of South Korea’s top cryptocurrency exchanges, has received bribes for listing specific cryptocurrencies on the platform. The accused executive, Jeon, allegedly received around 2 billion Korean won (approximately $1.5 million) between...
The South Korean crypto exchange GDAC was compromised on April 9. GDAC is widely recognized for token-to-token transactions. The breach resulted in the theft of 23% of the exchange’s assets. The hackers stole 61 bitcoin (BTC), 350.5 ether (ETH), 10 million wemix tokens...
The Ministry of Justice in South Korea, through a Government Business Report released on Jan. 26, announced the primer of a ‘virtual currency tracking system’ to curb money laundering and recovery of proceeds of crime. Enforcement of the ‘virtual currency tracking system’ The...