South korea

South Korea’s Financial Intelligence Unit plans to institute direct regulations on cryptocurrency exchanges.

South Korea has detained 132 suspects believed to be involved in cryptocurrency crime.

A local news outlet reported conflicting statements about Binance’s plans for a South Korean cryptocurrency exchange subsidiary.

Shinhan Bank plans to take special measures in response to claims that it has been aiding criminals committing fraud involving cryptocurrency exchanges.

Following regulatory pressure, several South Korean cryptocurrency exchanges will now accept sole responsibility for security breaches.

North Korean hackers have made a phishing attempt on users of South Korean crypto exchange Upbit. The hackers reportedly sent out an email claiming that Upbit users needed to submit more information to become eligible for a prize drawing, then malware would activate when they opened it.

Cryptocurrency exchange platform Coinbase has announced that it will be expanding its crypto-to-crypto trading service to more countries.

Last month, the South Korean exchange Bithumb lost about $13 million worth of cryptocurrency to hackers. Now, South Korea’s National Police Agency has seized an external server believed to be associated with the attack.

The company had reportedly lost $26 million as a result of theft and the subsequent bankruptcy declaration. Coinbin’s CEO Park Chan-kyu claims that the move was “due to a rise in debt following an employee’s embezzlement.”

South Korea will test out a new blockchain voting system this month, sources close to the developments have confirmed to Bitcoin Magazine.