South Korea’s Zeniex Exchange to Shut Down After Less Than 6 Months

Twitter Facebook LinkedIn Barely five months after Zeniex was launched, the South Korean cryptocurrency exchange is closing shop. The exchange, which was unveiled in May, has disclosed that it will cease all operations on November 23. Zeniex blamed the development on the problems facing its ZXG token. “… with recent issues regarding ZXG, we have […]

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South Korean Court Rules Bank’s Action to End Banking Services to Crypto Exchange Illegal

Twitter Facebook LinkedIn A court in South Korea has ruled that the decision by a commercial bank to stop offering banking services to a cryptocurrency exchange was unlawful and must therefore be rescinded. According to the Central District Court’s 50th Civil Affairs Division, the move by South Korean commercial bank Nonghyup to cease offering deposit […]

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How the Recent $60m Crypto Hacking Attack Will Impact Japanese Market

Zaif, a major crypto exchange in Japan, was hacked this week, losing nearly $60 million in user funds in a high profile security breach. Local publications including Japan Times reported that 6.7 billion yen was stolen by an unknown group of hackers, 2.2 billion yen in corporate funds and 4.5 billion yen in user funds […]

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Over US$8 Million Lost by 2,600 Investors in South Korea’s ‘Treasure Ship’ ICO

Millions of dollars are estimated to have been sunk by investors seeking a piece of the ‘Russian treasure ship’ ICO fronted by a South Korean ‘treasure-hunting’ firm. According to South Korean police, it has been tentatively concluded that about 2,600 people invested around 9 billion won or slightly over US$8 million in Shinil Group which […]

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Samsung Launches Blockchain Certification Platform for Korea’s Banks

Samsung, under its IT arm Samsung SDS Co., has unveiled its blockchain based platform, BankSign, to allow people to make transactions at different banks more easily. The Korea Federation of Banks (KFB) launched BankSign in June as a way to allow domestic retail banks to strengthen their verification systems by digitizing both mobile and online […]

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Korea’s Crypto Industry Condemns Exclusion Plan from Venture Firms List

Crypto exchanges and blockchain startups in South Korea are protesting against a recent legislative proposal by the government to exclude the industry from recognized venture businesses. In a proposal outlined by South Korea’s Ministry of SMEs and Startups this week, the government body revealed its intention to exclude the blockchain industry, including cryptocurrency exchanges, from […]

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South Korean Government to Promote Blockchain Training as Part of ‘4th Industrial Revolution’

South Korea’s Ministry of Science and ICT will promote the training of blockchain technology as part of an effort to prepare young people for what it calls the “Fourth Industrial Revolution.” Blockchain technology is included in courses that have recently been announced by the Ministry of Science and ICT. The Ministry of Science and ICT […]

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Korea’s Biggest Crypto Exchange UPbit Comes Out Clean in Audit after Raid

UPbit, currently the biggest crypto exchange in South Korea, came out clean in an audit report which proved the exchange had 100 percent of the amount its balance sheet demonstrated. Police Raid in May On May 11, as CCN reported, UPbit was raided by local authorities under the suspicion of balance sheet manipulation and inflated […]

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Korea’s Financial Watchdog Calls for Stock Trading on a Blockchain

South Korea’s primary financial watchdog has backed the use of blockchain technology as the core infrastructure for trading stocks in the country. First reported by domestic news publication Korea Joongang Daily, the Financial Supervisory Service (FSS) has advocated the use of blockchain for stock trading in a report focused on the subject released on Thursday. […]

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Ripple Powers Korean Crypto Exchange Coinone for Blockchain Payments

Join our community of 10 000 traders on Hacked.com for just $39 per month. South Korean cryptocurrency exchange Coinone is turning to Ripple for international remittances. Coinone Transfer, the retail remittance subsidiary of the namesake crypto exchange, will begin using Ripple’s enterprise blockchain network to power its soon-to-launch international remittance service for retail customers in […]

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