Cryptocurrency Analysis and News Portal
UPbit, South Korean cryptocurrency exchange, has recently posted a statement on its official website, confirming a cyberattack that resulted in the robbery of approximately $50 million in virtual assets. The statement was posted on 27th November, when UPbit informed users about the suspension of its services related to deposit and
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South Korea’s National Assembly’s policy committee passed a bill on Tuesday, adding new amendments to the Act on Reporting and Using Specified Financial Transaction Information that will create a groundwork for digital currencies by classifying them as virtual assets.One of Korea’s financial regulator, the Financial Services Commission (FSC), claims that
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“Everyday for the thief, one day for the owner,” they say. Well, that proved true in the case of this South Korean crypto exchange, CoinUp, which the police found to be a fraudulent scheme.According to local South Korean news reports, the crypto exchange was involved in an elaborate scam worth
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The South Korean government is planning to establish a digital trade foundation to reduce the costs of trade by using blockchain technology.Reduce trade costs by more than 90%On Oct. 14, South Korean Finance Minister Hong Nam-ki introduced the country’s Development Plan for Digital Trade. Under the plan, technologies such
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Blockchain company Iconloop has secured 10 billion Korean won (KRW) (over $8 million) from seven investment companies participating in a Series A funding round.Per an Oct. 10 announcement, it was Iconloop’s first venture capital investment since its establishment in 2016, with the participation of companies such as Korea Technology
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Major South Korean bank KB Kookmin Bank is planning to integrate blockchain technology into its internal processes.As local news outlet Korea JoongAng Daily reported on Oct. 7, the institution said blockchain technology could offer a multitude of benefits to the financial industry, including the issuance of digital tokens, funding,
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In what can unarguably pass as restoring hope to India’s crypto investors, the South Korean crypto exchange Bithumb has decided to plant one of its branches in the country.Bithumb, which is currently one of the biggest South Korean crypto exchanges, took a leap of faith and is headed to India
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According to a press release published on September 13th, the U.S. Department Of The Treasury is sanctioning three North Korean state-sponsored malicious cyber groups, known by the names of Andariel, the Lazarus Group and Bluenoroff. All have targeted and employed cryptocurrency for their nefarious purposes.In a statement released by the
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The United States Treasury Department announced further sanctions against three North Korean state-sponsored hacker groups, responsible for “North Korea’s malicious cyber activity on critical infrastructure.”Continue to enforce existing U.S. and U.N. sanctions against North KoreaOn Sept. 13, the U.S. Department of Treasury announced sanctions against North Korean hacking groups,
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South Korea’s biggest entertainment company SM Entertainment revealed that it will be launching its own cryptocurrency in collaboration with the tech organization CTIA Labs.SM Entertainment is popularly crowned as the largest South Korean entertainment company with an estimated annual revenue of $350 million. These figures for public introspection on the
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