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South Korean Politician Quits Party Over Crypto Scandal

[May 15, 2023 2:30 AM] A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves…

Samsung to research South Korea’s CBDC for offline payments

[May 15, 2023 2:25 AM] The collaboration will have both parties researching the offline capabilities of the CBDC issued by South Korea’s central bank.

South Korea’s LG Electronics Files For NFT-Trading TV Patent

[May 13, 2023 7:35 AM] A recent report published on WIPO’s global database for intellectual property disclosed LG Electronics’ application to acquire an NFT trading patent for its Smart TV.  Notably, the WIPO guide states that a filing application can only be…

LG Electronics files patent for NFT-trading TV

[May 12, 2023 2:30 PM] The information was published on WIPO's global database for intellectual property on May 11, 18 months after LG filed its application.

Do Kwon's lawyers propose $436K bail as authorities prepare for June trial

[May 11, 2023 8:58 AM] Lawyers said Do Kwon and Han Chang-joon could be released on bail and largely confined to a Montenegro apartment with the “obligation to periodically report to the state authority.”

South Korean Authorities Investigate Lawmaker Over Alleged Crypto Transfers

[May 9, 2023 3:00 PM] There’s a rumor of a conflict of interest around the South Korean opposition lawmaker Kim Nam-Kuk over crypto transactions.  The growing domestic outrage alleged that Kim liquidated over $4 million worth of crypto assets before the lawmakers…

South Korean lawmaker allegedly cashed out while legislating on crypto: Report

[May 8, 2023 1:00 PM] National Assembly member Kim Nam-kuk had authority in handling laws related to digital assets in South Korea, reportedly backing a bill proposing a 20% crypto gains tax be deferred.

South Korea Authorities Investigate Lawmaker Over Suspicious Crypto Transfers: Report

[May 8, 2023 3:15 AM] Democratic Party lawmaker Kim Nam-kuk had reportedly co-sponsored a bill seeking to defer taxation on crypto profits.

Prosecutor says Do Kwon’s extradition to South Korea would best serve Terraform Labs’ victims: Report

[May 5, 2023 11:15 AM] The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he committed most of his crimes, according to local authorities.

South Korea’s sweeping crypto bill passes first regulatory hurdles

[Apr 26, 2023 12:20 PM] Legislators in South Korea passed a first-phase review of proposed cryptocurrency regulations that include relatively harsh sentencing recommendations.

Report: Terraform Labs Co-Founder Indicted on Fraud Charges in South Korea

[Apr 25, 2023 12:00 PM] Recent local reports have brought to light that Shin Hyun-seong, also known as Daniel Shin, co-founder of Terraform Labs, has been indicted by the Seoul Southern District Prosecutors’ Office on charges of fraud. Along with nine others, Shin…

Terra Co-Founder Daniel Shin Indicted in South Korea: Bloomberg

[Apr 25, 2023 5:33 AM] Shin was indicted with nine others as prosecutors froze $185 million in assets.

Terraform Labs co-founder and nine others indicted in South Korea

[Apr 25, 2023 3:35 AM] The indictment of 10 individuals associated with Terraform Labs, including co-founder Hyun-seong Shin, comes after 11 months of investigation into the collapse of Terra.

South Korean Court Rules Terra Crypto Asset LUNC Is Not a Security

[Apr 24, 2023 11:30 AM] Amidst the allegations against Do Kwon, the co-founder of Terraform Labs, a recent report by the Korean Sunday News has revealed that the Seoul Southern District Court has ruled in favor of LUNA, now renamed LUNC, by stating that it is not a…

LUNA token is not a security, rules S.Korean court in Terra co-founder case

[Apr 24, 2023 5:29 AM] The court in its ruling noted that It is difficult to see Luna coin as a financial investment product regulated by the Capital Markets Act.

Do Kwon Retained Law Firm in South Korea Before Terra's Collapse: Report

[Apr 17, 2023 2:31 AM] South Korean prosecutors confirmed a report that Kwon sent $7 million to a local law firm in the months leading up to his venture's dramatic fall.

Do Kwon’s Terraform Sent $7 Million to Law Firm Before Collapse, Report Unveils

[Apr 16, 2023 5:30 AM] Prosecutors investigating failed blockchain firm Terraform Labs have found out that its Singapore office sent millions of U.S. dollars to lawyers just before the crash of its cryptocurrencies. According to Korean media, the transfers suggest that…

As Justice Is Sought for Do Kwon, South Korea’s Crypto Scene Emerges From Terra’s Shadow

[Apr 13, 2023 6:51 AM] The collapse of Terra continues to reverberate in Do Kwon’s homeland, but there are signs of progress, CoinDesk’s Emily Parker reports.

Employees of South Korean Crypto Exchange Coinone Arrested: Report

[Apr 11, 2023 6:24 AM] Seoul Southern District Court Chief Judge Kim Ji-Sook issued a warrant for the arrests on Monday, saying "There is concern about escaping."

S. Korean Crypto Exchange Gdac Hacked for Nearly $13M

[Apr 10, 2023 5:45 AM] The exchange said on Sunday hackers transferred the crypto assets from a hot wallet to an unidentified wallet.

South Korean Prosecutors Uncover Alleged $314 Million Criminal Proceeds Tied to Terraform Labs Co-Founders

[Apr 7, 2023 8:00 AM] According to a report by South Korean news publication KBS, Do Kwon, the co-founder of Terraform Labs, has converted a “large part” of his assets into bitcoin. Prosecutors in South Korea believe that Kwon’s purported bitcoin stash…

Do Kwon's Millions Are Not in South Korea, Prosecutors Say: Report

[Apr 7, 2023 5:16 AM] South Korea requested the extradition of the Terraform Labs CEO after his recent arrest in Montenegro.

Do Kwon converted illicit funds from LUNA to Bitcoin: S.Korean prosecutors

[Apr 7, 2023 4:10 AM] South Korean prosecutors have contacted Binance to request a halt on withdrawals linked to Do Kwon.

South Korean Traders Are Jumping on SXP, ICX Tokens

[Apr 4, 2023 3:58 AM] Trading volumes and prices for the two tokens have surged in the past few days on local exchanges.

South Korean authorities seize $160M in assets tied to Terra employees: Report

[Apr 3, 2023 2:59 PM] Prosecutors reportedly took control of houses and properties in an attempt to prevent former Terra employees from disposing of assets potentially connected to criminal proceedings.

Alchemy Pay Raises $10M at $400M to Push South Korean Expansion Plans

[Apr 2, 2023 8:00 PM] The funding came from DWF Labs making its eighth investment of $10 million or more in the last six weeks.

South Korean Court Denies Arrest Warrant for Terraform Co-Founder Daniel Shin

[Apr 1, 2023 12:30 AM] A court in South Korea has again denied the arrest warrant for Daniel Shin, a co-founder of Terraform Labs who is being investigated for fraud. Shin has been accused of illegally profiting from the sale of over $100 million worth of the luna…

Terra co-founder Do Kwon's jail time in Montenegro will be harsh: Report

[Mar 30, 2023 11:35 AM] Now in custody in Montenegro, Do Kwon could be facing "at least a year" behind bars as the country considers extradition requests, according to one criminal defense lawyer.

Do Kwon to Stand Trial in Montenegro, May Serve Time Before Extradition

[Mar 30, 2023 7:30 AM] Before extradition, Terraform Labs founder Do Kwon will first have to stand trial in Montenegro for traveling on a fake passport, according to his lawyer in the country. The fugitive crypto entrepreneur may also have to serve time in prison before…

XRP Trading Volumes Surges to Billions of Dollars on South Korean Crypto Exchanges

[Mar 30, 2023 2:52 AM] XRP trading made up nearly 50% of all volumes on Korbit, a prominent local exchange.