12 / 12 Relevant items tagged with #SouthKorea

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Seoul government opens city's metaverse project to public

[Jan 16, 2023 11:00 AM] According to Seoul Mayor Oh Se-hoon, the virtual environment will allow residents to access official documents, file complaints, and receive answers to questions on filing taxes.

Bithumb ordered to pay outage damages to investors by South Korean court

[Jan 16, 2023 4:18 AM] A ruling from local courts has Bithumb liable to pay just over $200,000 in damages to the 132 investors which filed against the cryptocurrency exchange.

Korean Court Orders Crypto Exchange to Pay Customers Suffering From Service Outage

[Jan 16, 2023 2:30 AM] South Korea’s supreme court has upheld the ruling for Bithumb, the country’s largest cryptocurrency exchange, to pay damages to more than a hundred customers who filed a lawsuit claiming they suffered financial losses resulting from…

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

[Jan 11, 2023 4:37 AM] The company confirmed that it has already broken all the ties with Huobi Korea, its former subsidiary in South Korea.

Study Reveals South Korea’s ‘Kimchi Premium’ Strongly Linked to International Remittances to China

[Jan 10, 2023 4:30 PM] A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a…

South Korean regulators target Bithumb in new probe

[Jan 10, 2023 8:00 AM] The South Korean National Tax Service agency launches an investigation into Bithumb, according to local reports.

Huobi Korea Plans to Cut Ties With Parent Company, Strengthen Domestic Presence

[Jan 9, 2023 5:30 PM] According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strengthen its position” as a domestic…

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

[Jan 9, 2023 11:53 AM] Chairman Cho Kook-bong will also take over a majority of shares previously held by co-founder Leon Li.

Crypto Exchange Upbit Logo to Appear on Italian Soccer Club Napoli’s Jerseys

[Jan 5, 2023 6:30 AM] Shirts worn by the players of the Italian soccer team Napoli will display the logo of cryptocurrency exchange Upbit. The arrangement is part of a sponsorship deal with Dunamu, the company that operates the coin trading platform, which is one of the…

Bithumb former chair Lee Jung-Hoon acquitted in the first instance

[Jan 3, 2023 1:23 AM] The former chair was under allegations of $70 million in fraud charges which were said to have occurred during the acquisition of Bithumb.

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

[Jan 2, 2023 3:00 PM] 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.

Report Shows Financial Troubles Plagued Bankman-Fried’s Alameda Research as Early as 2018

[Jan 2, 2023 9:30 AM] Before FTX collapsed it was assumed that Alameda Research was one of the top quantitative trading firms and market makers within the industry. However, much of that perception may have been a facade as a recent report details that Alameda suffered…

Executives from $1.5B South Korean crypto exchange fraud jailed

[Dec 27, 2022 11:49 PM] The latest court action now takes the number of V Global execs behind bars up to seven, as the CEO, known as Mr. Lee was previously sentenced to a 22 year prison term.

South Korean court freezes $92M in assets related to Terra tokens

[Dec 20, 2022 5:20 AM] The CEO of Terraform Labs’ affiliate firm Kernel Labs reportedly held the largest amount in illegal proceeds from Terra.

Nifty News: Building bridges in the Metaverse, elaborate Apes scam and more

[Dec 19, 2022 12:15 AM] A South Korean province is using the Metaverse for closer economic ties with Vietnam and an elaborate phishing scam netted 14 Bored Apes.

Web3 Blockchain Gaming Project Oasys Closes Strategic Funding Round With Participation of Galaxy Interactive and Nexon

[Dec 6, 2022 9:30 AM] Oasys, a Gamefi-oriented Web3 blockchain project, has announced it has closed a strategic funding round led by Galaxy Interactive, a VC firm, and Nexon, a gaming company. The round, whose numbers were not disclosed, will allow the company to…

Korean VC Firm Daesung Private Equity Announces $83 Million Metaverse Fund

[Dec 3, 2022 3:00 AM] Daesung Private Equity, a Korean venture capital firm, has announced the launch of a metaverse fund of 110 billion won ($83.5 million). The fund, which will have the participation of the Korean state represented by Korea Venture Investment…

South Korean judge dismisses arrest warrants for Terra co-founder Do Kwon's former associates

[Dec 2, 2022 3:30 PM] Judge Hong Jin-Pyo reportedly said there was little risk of Shin Hyun-seong or other Terra associates destroying evidence related to the case against the platform.

Hong Kong working on investor protection regulations, says central bank exec

[Dec 2, 2022 2:19 AM] Hong Kong central bank executive looked optimistic about the future of decentralized tech, while the Korean central bank governor has his doubts in the wake of the recent crypto contagion.

South Korea issues arrest warrant for Do Kwon's former colleagues

[Nov 30, 2022 2:12 AM] Arrest warrants were sought for Terraform Labs co-founder Daniel Shin, three investors and four engineers responsible for TerraUSD (UST) and LUNA initiatives.

FTX collapse triggers second thoughts on Busan City's crypto exchange plans

[Nov 23, 2022 2:30 AM] The Busan city administration has signed agreements with multiple crypto firms, including Binance, Huobi Global, Crypto.com, as well as the troubled FTX exchange.

The nightmare continues for Sam Bankman-Fried and FTX — Law Decoded, Nov. 14-21

[Nov 21, 2022 2:00 PM] The founder of FTX provoked the withdrawal of his legal team and now faces the possibility of extradition to the United States.

South Korea investigates crypto exchanges for listing native tokens

[Nov 20, 2022 4:55 AM] Initial investigations revealed that all crypto exchanges performed lawful operations across South Korea. However, Flata Exchange is suspected of listing its in-house token, FLAT, in January 2020.

Terra’s $2.8B Defense System — Luna Foundation Guard Audit Says Group Spent More Than 80,000 Bitcoin Defending UST Peg

[Nov 16, 2022 3:30 PM] Months after the collapse of Terra’s U.S. dollar-pegged token UST, the organization created to protect the once-stable coin, the Luna Foundation Guard (LFG), published an audit report audited by the New York-based consultancy company JS…

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

[Nov 14, 2022 2:50 PM] Authorities reportedly alleged Shin Hyun-seong earned roughly $105 million in profits from illegal sales of LUNA tokens before Terra’s collapse.