Latest News and Articles about South Korea
South Korean Man Jailed 3 Years for $2M Crypto Scam: A Ponzi Scheme Unveiled
South Korean Man Sentenced to Prison for $2 Million Crypto Scam – **Person A sentenced to three years in prison** – **$2.04 million defrauded through crypto scam** – **Scam operated from December 2021 to August 2023** The Scam Unveiled Losing over $2 million to a crypto scam promising guaranteed returns is a nightmare that became […]
Read MoreSouth Korean Prosecutors Arrest Two for Fusionist (ACE) Token Manipulation Scheme
South Korean Prosecutors Crack Down on Fusionist (ACE) Token Price Manipulation South Korean prosecutors have arrested two individuals, Lee and Kang, for orchestrating a sophisticated price manipulation scheme involving the Fusionist (ACE) token. This case marks the first prosecution under the newly enacted Virtual Asset User Protection Act, highlighting the country’s aggressive stance against crypto […]
Read MoreSouth Korea Considers Foreign Crypto Investment with Strict AML Compliance
South Korea Eyes Foreign Crypto Investment Amid Regulatory Challenges Imagine a world where the infamous “Kimchi Premium” is no more. South Korea’s Financial Services Commission (FSC) might just make this a reality by considering allowing foreign investors into its cryptocurrency market, provided local exchanges meet stringent anti-money laundering (AML) requirements. This potential policy shift could […]
Read MoreSouth Korea Crypto Crisis: Investor Assaults Delio CEO, Haru Invest CEO Stabbed Amid Regulatory Crackdown
South Korea Cryptocurrency Crisis: Investor Assaults Delio CEO Over Lost Funds, Faces Fine A South Korean investor, driven to desperation by lost cryptocurrency funds, assaulted the CEO of bankrupt crypto lender Delio. This incident, part of a broader wave of tension between defrauded investors and crypto executives, has resulted in a fine for the assailant […]
Read MoreSouth Korea’s Public Officials Hold $9.8M in Crypto: New Disclosure Mandate in Effect
South Korean Public Officials Embrace Crypto: 20% Hold Digital Assets Worth 14.4 Billion Won – 20% of South Korean public officials hold cryptocurrency. – Total value of these holdings: 14.41 billion Korean won ($9.8 million). – Seoul City Councilor Kim Hye-young leads with 1.7 billion Korean won ($1.2 million) in 16 different cryptocurrencies. – New […]
Read MoreBithumb Raid: Ex-CEO Accused of Fund Misuse via Shell Companies
Bithumb’s Headquarters Raided Over Allegations of Fund Misuse by Former CEO In a shocking move, South Korean police stormed Bithumb’s headquarters, one of the country’s top crypto exchanges, over claims of massive fund misuse by its ex-CEO. This incident underscores the urgency for transparency and accountability within the cryptocurrency industry. Bithumb raided by South Korean […]
Read MoreUpbit Challenges Wu Blockchain’s $10M Listing Fee Claims: Demands Proof Amid Regulatory Scrutiny
Upbit Challenges Wu Blockchain on Listing Fee Allegations: Demands Proof South Korea’s leading cryptocurrency exchange, Upbit, faces serious allegations from Wu Blockchain, claiming that the exchange charges hefty intermediary fees for token listings. Upbit has vehemently denied these accusations and is challenging Wu Blockchain to provide concrete evidence. This controversy emerges amidst heightened regulatory scrutiny, […]
Read MoreBithumb Raided Over $2M Misconduct: Crypto Exchange’s Future in Jeopardy
Bithumb Under Investigation Amid Financial Misconduct Claims South Korean prosecutors raided Bithumb’s headquarters on March 20, 2025, launching an investigation into allegations of financial misconduct. The probe zeroes in on a 3 billion KRW ($2 million) security deposit used to secure an apartment rental for former CEO Kim Dae-sik. This latest scandal is a stark […]
Read MoreSouth Korea Rejects Bitcoin Reserves, Echoing Global Central Bank Caution
South Korea Joins Global Choir in Rejecting Bitcoin Reserves Amid Crypto Enthusiasm On March 17, 2025, South Korea’s central bank, the Bank of Korea, announced its rejection of Bitcoin as a reserve asset, citing the cryptocurrency’s notorious volatility. Despite the country’s vibrant crypto scene, this decision aligns with global trends where other major central banks […]
Read MoreSouth Korean Official Sentenced for Embezzling $342K in Crypto Scam
Government Official in South Korea Forged Documents to Funnel Funds into Crypto Can you imagine a government official using flood relief funds to gamble on cryptocurrencies? It’s not a plot from a thriller movie; it’s a stark reality in South Korea. Person A, a civil servant at Cheongju City Hall, siphoned off a staggering 497.16 […]
Read MoreSouth Korea Launches Two-Phase Crypto Framework for Institutions in April
South Korea’s Strategic Leap into Institutional Crypto Investment South Korea is taking a bold step to integrate institutional investors into its thriving cryptocurrency market. The Financial Services Commission (FSC) is set to roll out a two-phase regulatory framework starting in April, aimed at fostering a secure and stable environment for crypto investments while aligning with […]
Read MoreSouth Korean “Coin King” Jonbur Kim Park Re-Arrested for $47M Artube Coin Fraud
South Korean Crypto Figure Jonbur Kim Park, “Coin King,” Re-Arrested for $47M Artube Coin Fraud Jonbur Kim Park, the notorious “Coin King,” is back in custody after being re-arrested for a $47 million cryptocurrency fraud involving Artube coin, mere weeks after his release on bail for a previous scam. This latest incident not only showcases […]
Read MoreSouth Korea Busts Bitcoin-Funded Drug Ring, 90 Arrested
South Korea’s Major Drug Bust Targets Cryptocurrency-Funded Gang In a dramatic sweep across South Korea, police have dismantled a sophisticated drug network, arresting 90 Vietnamese nationals who used Bitcoin to fuel their operations. The gang smuggled synthetic cannabis, ketamine, and MDMA, cleverly disguised as everyday items. 90 Vietnamese nationals arrested in South Korea. Drugs smuggled […]
Read MoreSouth Korea to Launch Bitcoin and Ethereum ETFs by 2025: A New Era of Crypto Investment
Bitcoin and Ethereum ETFs Poised for Launch in South Korea in 2025 Seo Yoo-seok, president of the South Korea Financial Investment Association (KOFIA), is pushing for the introduction of Bitcoin and Ethereum spot-traded ETFs in South Korea by 2025, despite the country’s cautious approach to crypto regulation. Seo Yoo-seok advocates for Bitcoin and Ethereum ETFs […]
Read MoreSouth Korean P2P CEO Accused of Embezzling Funds for Crypto: Investor Plans Legal Action
South Korean P2P CEO Accused of Diverting Client Funds into Crypto: A Betrayal of Trust In a shocking turn of events, the CEO of a prominent South Korean P2P lending firm has been accused of a financial betrayal that could shake the foundations of the industry. Instead of building homes, it seems the CEO was […]
Read MoreSouth Korea’s JIU Becomes Permanent Crypto Crime Unit
South Korea’s JIU: A Permanent Force Against Crypto Crime South Korean prosecutors are set to make the Joint Investigation Unit (JIU) for Virtual Asset Crimes a permanent fixture in their fight against crypto-related crimes, transitioning from a temporary task force to a full-fledged department. JIU to become permanent crypto crime unit in South Korea Originally […]
Read MoreUpbit and Bithumb Pay Record $2.5M Crypto Compensation in South Korea After System Failures
Upbit and Bithumb Set Record with Biggest Ever Crypto Compensation in South Korea In a historic move following a tumultuous period, South Korea’s leading crypto exchanges, Upbit and Bithumb, have agreed to pay out the largest compensation in the nation’s crypto history due to system failures caused by a martial law declaration and a Bitcoin […]
Read MoreSouth Korean Crypto Operator Jailed for Leaking Military Secrets to North Korea via Bitcoin
South Korean Crypto Operator Jailed for Selling Military Secrets to North Korea via Bitcoin In a shocking case of digital espionage, a South Korean crypto operator has been sentenced to prison for selling military secrets to North Korea using Bitcoin. This incident underscores the potential misuse of cryptocurrencies in international espionage while highlighting the ongoing […]
Read MoreSouth Korea’s First Crypto Manipulation Case Under New Virtual Asset Act: Details and Implications
South Korea Cracks Down on Crypto Price Manipulation with First Action Under New Virtual Asset Act South Korea has launched its first action against cryptocurrency price manipulation under the newly enforced Virtual Asset Act, aiming to protect investors from unfair practices in the crypto market. The Virtual Asset Act, effective from July 19, 2024, is […]
Read MoreUpbit Faces Sanctions in South Korea: New Users Risk Six-Month Withdrawal Ban
Upbit Faces Potential Sanctions in South Korea Amid Regulatory Crackdown Imagine waking up to find your new crypto investments locked away for six months. This could soon be a reality for new Upbit users as South Korea ramps up its regulatory crackdown. Upbit, the largest cryptocurrency exchange in South Korea, is under scrutiny for potential […]
Read MoreSouth Korea to Boost Crypto Market with Corporate Accounts in 2025 Plan
South Korea’s Plan to Allow Corporate Crypto Accounts Sparks Optimism Amid Regulatory Challenges South Korea’s financial regulators are shaking things up in the crypto world with their plan to gradually allow corporate accounts for cryptocurrency exchanges. This big move, detailed in the “2025 Key Policy Plan,” aims to strike a balance between regulatory relaxation and […]
Read MoreBithumb Targets Youth with Kookmin Bank Switch in 2025 Crypto Push
Bithumb Switches to Kookmin Bank, Targets South Korea’s Youth in Crypto Surge – Bithumb shifts to Kookmin Bank to engage South Korea’s younger demographic. – Transition set for March 2025, approved by South Korea’s financial watchdog. – Move reflects global trend of younger generations embracing cryptocurrencies. Bithumb, South Korea’s second-largest cryptocurrency exchange, is making a […]
Read MoreSouth Korea to Ease Institutional Crypto Investment Rules in 2025, Boosting Market Integration
South Korea’s Financial Services Commission to Ease Institutional Crypto Investment Rules in 2025 South Korea’s Financial Services Commission (FSC) is gearing up to relax institutional crypto investment restrictions in 2025, signaling a major shift towards integrating digital assets into the nation’s financial system. South Korea’s FSC to ease crypto investment restrictions in 2025 Non-profit corporations […]
Read MoreRipple Overtakes Ethereum in South Korea: Economic Concerns Rise
Ripple Surges Past Ethereum in South Korea’s Crypto Preferences Ripple (XRP) has overtaken Ethereum (ETH) as the second-most preferred cryptocurrency among South Korean investors, according to a recent survey by News1. This shift underscores the unique dynamics of the South Korean crypto market amidst broader economic concerns. Ripple surpasses Ethereum in South Korea. Survey reveals […]
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