South Korea | ForkLog

ForkLog 22 21.11.2024

North Korean Hackers Implicated in 2019 Upbit Breach

The theft of 342,000 ETH from the Upbit exchange in 2019 has been linked to North Korea, according to South Korea’s National Investigation Service. This was reported by The Block. This marks the first time the country’s authorities have connected the crime to the neighboring state. “[We] reached this conclusion based on a comprehensive analysis […]

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ForkLog 20 15.11.2024

South Korean Authorities Uncover Up to 600,000 KYC Violations at Upbit

South Korea’s Financial Intelligence Unit, part of the FSC, has identified between 500,000 and 600,000 potential violations of KYC procedures at the Upbit exchange, according to Maeil Business. Specifically, Upbit allegedly allowed users to open accounts using identifiers with blurred personal details such as names and registration numbers. The platform faces fines of 100 million […]

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ForkLog 11 13.11.2024

South Korean YouTuber Accused of Selling Scam Coins Worth $232 Million

South Korean police have detained 215 individuals in connection with an alleged fraud involving an investment company managed by an unnamed video blogger. This was reported by local media. According to the investigation, from December 2021 to March 2023, the creator of a YouTube channel with 620,000 subscribers operated a fraudulent consulting firm. Users were […]

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ForkLog 12 24.09.2024

South Korean Officers Allegedly Used Military Secrets as Collateral for Cryptocurrency Purchases

Several officers of the South Korean army allegedly used secret military passwords as collateral to secure loans for purchasing cryptocurrency. This was reported by local media, citing the Ministry of Defense. According to the ministry, active officers from a military unit in Chuncheon were unable to obtain funds from commercial banks, prompting them to turn […]

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ForkLog 17 29.08.2024

Cryptocurrency Fraudster Undergoes Plastic Surgery to Evade Arrest in South Korea

South Korean police have apprehended the leader of a fraudulent scheme who embezzled 16 billion won ($12 million) from clients under the guise of cryptocurrency investments, according to local media. Investigators report that the 40-year-old suspect promoted a company purportedly involved in cryptocurrency mining from November 2021 to June 2022. He promised clients a monthly […]

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ForkLog 28 29.08.2024

LINE to Introduce Telegram-Style Apps in Messenger

The team behind Kaia, an L1 blockchain based on South Korea’s Kakao and Japan’s LINE messengers, is set to launch its mainnet. Among its features is the ability to create applications “in the style of Telegram,” reports The Block. The event is scheduled for August 30 at 6:00 (Kyiv/Moscow). Kaia was introduced in April following […]

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ForkLog 13 28.08.2024

Haru Invest CEO Attacked in Courtroom

On August 28, Lee Hyun-su, the CEO of South Korean cryptocurrency investment platform Haru Invest, accused of embezzling approximately $826 million from clients, was attacked with a weapon in a courtroom. This was reported by local media. During the session, one of the aggrieved investors approached Lee and stabbed him multiple times in the neck […]

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ForkLog 131 21.08.2024

Co-founder of Bitcoin Scheme FutureNet Arrested in Montenegro

Police in Podgorica, acting on requests from Poland and South Korea, have arrested Roman Ziemian, co-founder of the cryptocurrency scheme FutureNet, on suspicion of multimillion-dollar fraud. This was reported by local media. According to the investigation, in 2014, the 51-year-old Polish national, along with Stephan Morgenstern, established a fund engaged in cryptocurrency trading. The platform […]

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ForkLog 33 02.08.2024

Do Kwon to be Extradited to South Korea

The Court of Appeals in Montenegro rejected the US request for the extradition of former Terraform Labs (TFL) CEO Do Kwon, deciding instead to send him to South Korea. This verdict by the Court of Appeals upholds the decision of the High Court of Podgorica, made at the end of June. In November 2023, the […]

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ForkLog 69 01.07.2024

SK Hynix to Invest $74.6 Billion in AI Chip Development

By 2028, South Korean chipmaker SK Hynix will invest 103 trillion won ($74.6 billion) to bolster its chip development business with a focus on AI. This was reported by Reuters, citing a statement from its parent company, SK Group. The conglomerate also plans to raise 80 trillion won ($57.6 billion) by 2026 for investments in […]

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ForkLog 17 18.06.2024

Regulatory Era: EU to Exclude Stablecoins, South Korea Targets Altcoins

The cryptocurrency exchange Uphold will delist USDT and five other stablecoins for Europeans under MiCA. The South Korean regulator has mandated a review of 600 altcoins listed on licensed trading platforms in the country. Starting July 1, the cryptocurrency exchange Uphold will cease support for stablecoins USDT, DAI, FRAX, GUSD, USDP, and TUSD for users […]

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ForkLog 20 12.06.2024

South Korean AI Chipmakers Rebellions and Sapeon Announce Merger

Two prominent South Korean startups specializing in artificial intelligence chip production, Rebellions and Sapeon, have decided to merge. This was reported by TechCrunch. The merger of Rebellions and Sapeon is a strategic move aimed at securing leadership in the local AI chip market and competing with global giants like Nvidia. Nvidia currently holds 97% of […]

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