Cryptocurrency Analysis and News Portal
The United States Treasury Department has identified over-the-counter (OTC) cryptocurrency traders who assisted North Korea’s Lazarus Group in converting stolen crypto into fiat currency. Crypto traders in China and Hong Kong have been sanctioned by the Treasury’s Office of Foreign Assets Control (OFAC). In addition, a China-based banker was sanctioned
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Earlier this year, Korean media reported that lawmakers were working on the Digital Asset Basic Act (DABA), which collectively refers to 17 draft bills that largely focus on investor protection. As of now, none of these bills has passed. “We were on the way to make some new crypto legislation,
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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 (WEMIX), and 220,000 USDT. GDAC declared that it
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Lotte plans to push its NFT endeavors with the help of the scalable Ethereum-compatible network provided by Polygon. South Korean multinational conglomerate Lotte Group partnered with Polygon to expand its non-fungible token (NFT) business. According to reports, Lotto plans to use the popular blockchain to usher its NFT affairs onto the global
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South Korea’s "Kimchi premium" has flipped to a discount again, meaning cryptocurrencies such as Bitcoin are now cheaper to buy on South Korean exchanges.The phenomenon is named after the Korean dish kimchi. The Kimchi premium refers to when the price of Bitcoin (BTC) trades higher on South Korean exchanges than
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South Korea’s second-largest city, Busan, is making efforts to become a crypto hub. Busan has been designated by the Korean government as a “super-aged” city, and its officials believe that crypto could help turn things around by attracting young people, tech startups, and investors. South Korean City Wants to Become a
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“South Korea's approach of tying the scope of security token offerings back to the definition of securities is broadly aligned with other regulators such as Singapore and Hong Kong,” said Angela Ang, senior policy adviser at blockchain intelligence firm TRM Labs and a former regulator at the Monetary Authority of
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The Federal Bureau of Investigation (FBI) has confirmed the Lazarus Group and APT38 as the culprits behind the $100 million Harmony Bridge Hack from June 2022. The North Korea-linked cyber group had long been suspected of being behind the attack but their involvement hadn’t been confirmed by authorities until now.
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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 surge in international remittances to China. Examination of Overseas Remittances to China Uncovers Strong Correlation with South Korea’s ‘Kimchi Premium’ According
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“Many years ago, it was AI. Now, it’s metaverse,” he says. “From the government’s perspective, […] as long as you don’t have a coin itself, they’re willing to support a lot of these new technologies” — Doo Wan
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