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South Korea

A collection of 11 posts

Hyundai Seoul Offices Evacuated After $1 Million Bitcoin Bomb Threat

Hyundai Seoul Offices Evacuated After $1 Million Bitcoin Bomb Threat

South Korea’s Hyundai Group faced a serious security incident on December 19 when an anonymous email demanded thirteen Bitcoin in ransom to prevent an alleged explosion at its Jongno-gu headquarters in Seoul. The threat specified a detonation time of 11:30 a.m. and warned of a second device

Do Kwon Requests 5 Year Prison Sentence in TerraUSD Fraud Case

Do Kwon Requests 5 Year Prison Sentence in TerraUSD Fraud Case

Terraform Labs co-founder Do Kwon has requested a prison term of no more than five years from a Manhattan federal court for his involvement in the fraud that triggered the 2022 collapse of the TerraUSD stablecoin. This development comes ahead of his sentencing hearing scheduled for December 11 before U.

South Korea's Largest Crypto Exchange Upbit Suffers $36 Million Hack

South Korea's Largest Crypto Exchange Upbit Suffers $36 Million Hack

South Korea’s leading cryptocurrency exchange Upbit disclosed a significant security breach on Thursday morning, with approximately 54 billion won, equivalent to around $36 million, drained from its Solana network holdings. The unauthorized transfers involved a mix of Solana-based assets, including SOL, USDC, and various smaller tokens, which were moved

Bithumb Splits into Crypto Exchange and Investment Business for South Korean IPO Plan

Bithumb Splits into Crypto Exchange and Investment Business for South Korean IPO Plan

South Korea’s prominent crypto exchange, Bithumb, is undergoing a significant reorganization to pave the way for an initial public offering (IPO) on the country’s Kosdaq exchange. The Seoul-based company has announced plans to split its operations into two distinct entities, separating its core crypto exchange business from its

Chinese National Murdered in South Korea Luxury Hotel in Cryptocurrency Deal Gone Wrong

Chinese National Murdered in South Korea Luxury Hotel in Cryptocurrency Deal Gone Wrong

There was a chilling scene in Jeju, South Korea, where a Chinese man in his 30’s was found dead in a luxury hotel, sparking a police investigation into a possible cryptocurrency-related murder. Authorities at Jeju West Police Station are now holding four Chinese nationals—two women and two men,

Former Bithumb Crypto Exchange CEO Sentenced to Two Years in Prison

Former Bithumb Crypto Exchange CEO Sentenced to Two Years in Prison

In a dramatic twist that feels straight out of a financial thriller, a South Korean court has recently sentenced the former CEO of Bithumb, one of the nation's premier crypto exchanges, and a celebrated golfer to prison for their parts in a complex scheme of bribery and market

Montenegro Extradites Do Kwon to the US Amid Cryptocurrency Fraud Allegations

Montenegro Extradites Do Kwon to the US Amid Cryptocurrency Fraud Allegations

BREAKING: Montenegro has decided to extradite the infamous South Korean cryptocurrency entrepreneur Do Kwon to the United States. This decision was officially announced by the Montenegrin Justice Ministry on Friday, December 27, 2024, highlighting a significant chapter in the saga of Terraform Labs' collapse. Do Kwon, once celebrated as

Report Reveals One Third of South Korea Now Holds Cryptocurrency

Report Reveals One Third of South Korea Now Holds Cryptocurrency

The crypto fever in South Korea has reached extraordinary levels, with a staggering one in three citizens now holding digital currencies. This surge reflects a broader trend of increasing acceptance and enthusiasm for cryptocurrencies, propelled by recent political developments and a general optimism in the market. The Bank of Korea

From Crypto Crash to Cinema: The Rise and Fall of Do Kwon Inspires South Korean Film

From Crypto Crash to Cinema: The Rise and Fall of Do Kwon Inspires South Korean Film

The tumultuous saga of TerraUSD and LUNA's monumental crash in 2022 has transcended the financial world to find a new life on the silver screen. The South Korean indie film "Crypto Man" is set to explore this narrative, blending elements of dark humor with a poignant

South Korea's Martial Law Shakes Up Cryptocurrency Market

South Korea's Martial Law Shakes Up Cryptocurrency Market

The sudden declaration of martial law by South Korean President Yoon Suk Yeol has sent ripples of uncertainty through the global cryptocurrency market, igniting a chaotic response in trading activity and price volatility. This unexpected political maneuver has not only destabilized the financial markets but has also put a spotlight

South Korea's Upbit Investigated for Over Half a Million KYC Violations

South Korea's Upbit Investigated for Over Half a Million KYC Violations

South Korea's largest cryptocurrency exchange, Upbit, has recently found itself in hot water over allegations of massive Know Your Customer (KYC) violations. The Scale of the Violations Upbit, a name synonymous with Bitcoin and cryptocurrency trading in South Korea, has come under scrutiny for not just minor oversights