Report: South Korean Crypto Exchanges Overtake Maltese Ones by Daily Trade Volume

Cryptocurrency exchanges registered in South Korea have overtaken their Maltese-registered counterparts by average daily trade volume in November. This is according to a report by cryptocurrency market data provider CryptoCompare, published Thursday, Dec. 6.

The November edition of CCCAGG, a monthly crypto exchange review published by CryptoCompare, shows that South Korean exchanges,

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North Korean Hackers Move Onto Attacking Individuals After Exchanges Boost Security

The CEO of cybersecurity firm Cuvepia declared that his company detected over 30 attacks on crypto-bearing individuals probably carried out by North Korean hackers, English-language media site South China Morning Post reports Nov. 29.

Kwon Seok-Chul, the CEO of the aforementioned South Korean cybersecurity company, said that the new targets of the suspected North Korean cyberattacks “are just simple wallet users investing in cryptocurrency.” He then added that many cases probably haven’t been detected,

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Plastic Surgeon and Startup Investor Buys $352 Million Stake in Korean Crypto Exchange Bithumb

A group led by one of South Korea’s leading plastic surgeons, Dr. Kim Byung Gun, has made a major investment in crypto exchange Bithumb’s holding company. Bloomberg reported the news Friday, Oct. 12.

The surgeon’s BK Global Consortium has closed a deal to acquire “50 percent plus one share” of BTC Holding Co.

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Korean Mobile Carrier LGU+ Launches Blockchain-Based Overseas Payment System

South Korea’s LG UPlus, a mobile carrier owned by the country’s fourth largest conglomerate LG Corp., is launching a blockchain-based cross-carrier overseas payment service, Korea Times reports today, September 16.

Last Thursday, September 13, LG UPlus had signed an MoU to develop the new service alongside three global partners: Taiwan-based Far EasTone Telecommunications,

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South Korean Official Proposes Greater Cooperation for Global Crypto Regulation

An official from South Korea’s Financial Supervisory Service (FSS) has proposed greater international cooperation between regulators for crypto and Initial Coin Offering (ICO) regulation, local news outlet Asian Economic TV reports Friday, September 7.

Yoon Suk-heun, governor of FSS, made a statement about the potential for more cooperation during the opening ceremony of the 20th Integrated Financial Supervisors Conference (IFSC) held in Seoul Thursday,

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SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled

Exchanges

Japan’s SBI Group is reportedly planning to create a crypto derivatives platform. In South Korea, Huobi is taking an aggressive approach and expects to achieve a 30% crypto market share. Meanwhile, a Thai crypto exchange has unveiled an ATM that supports four cryptocurrencies.

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Korean Crypto Exchange Bithumb Suspends Opening New Virtual Accounts

Korean Crypto Exchange Bithumb Suspends Opening New Virtual Accounts

Exchanges

Bithumb has suspended issuing new virtual accounts to crypto traders starting on August 1 after failing to renew the contract with its bank. These accounts are part of the real-name system enforced by the Korean government earlier this year. Only three exchanges in the country are now reportedly able to open new virtual accounts for their customers.

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Korean Shipwreck ICO Under Investigation for Possible Fraud


A South Korean treasure-hunting company called Shinil Group recently made headlines across the world once they announced an ICO after making the big discovery of a sunken Russiani battleship carrying gold worth $130 billion.

Team members from the company posted a YouTube video on July 16th showing how they were able to allegedly find wreckage of the Dmitrii Donsoki,

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Korean Authorities Investigate Alleged Crypto Scam That Promised Investors Shipwreck Gold

South Korean authorities are investigating a possible crypto investment scam involving the Seoul-based Shinil Group as the key figure, Korea JoongAng Daily reported July 31. Shinil Group (Shinil) allegedly promised to pay investors in gold from a sunken Russian shipwreck.

Earlier this month, Shinil announced it had found the Dmitrii Donskoi, a Russian armored cruiser that sank 113 years ago,

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South Korean Regulator Presses Lawmakers to Pass Crypto Bill Urgently

Regulation

South Korea’s top financial regulator has urged lawmakers to pass the country’s first crypto bill quickly, citing the urgent need from rising incidents at crypto exchanges. There are currently several crypto-related laws pending at the National Assembly.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Crypto Law Urgently Needed

South Korean Regulator Presses Lawmakers to Pass Crypto Bill UrgentlySouth Korea’s top financial regulator,

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Binance Prepares to Enter the South Korean Market

Binance Prepares to Enter the South Korean Market

Exchanges

Binance is preparing to expand into South Korea, having already hired Koreans for some local positions. CEO Changpeng Zhao has stressed the importance of the Korean market, noting that some Koreans are already using Binance, especially to trade newer coins. However, the exchange is reportedly waiting for the country’s crypto regulatory framework to be fine-tuned before actually launching.

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Korean Authorities to Legitimize Crypto Market as Soon as Possible to Prevent Hacks

The government of South Korea and local financial authorities are planning to pass the country’s first crypto and blockchain legislation as early as possible, to legitimize and strictly oversee the local cryptocurrency industry.

The newly drafted regulatory framework which covers a wide range of businesses and ventures from blockchain projects to crypto exchanges,

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South Korean Telecoms Giant KT Has Built Its Own Blockchain

KT Corporation, one of the two largest telecoms companies in South Korea, has launched a proprietary blockchain network, aiming to apply the technology across areas including ID verification, data roaming and energy trading.

According to a report from CoinDesk Korea, the firm revealed its KT Network Blockchain on Tuesday, boasting a throughput of 2,500 transactions per second (TPS) thanks to an integration with its existing high-speed commercial network.

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Korean Firm Discovers $130 Billion in Gold from Sunken Russian Battleship, Plans To Launch ICO


Shinil Group, a South Korea treasure-hunting company, has announced that it will launch an ICO after discovering worth $130 billion in gold from the wreckage of the Russian cruiser Dmitrii Donskoi.

Dmitrii Donskoi was scuttled in 1905 after being severely damaged in the Russo-Japanese War. Since then,

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