Crypto Exchange Coinrail Reopens with Offers to Recover 11 Cryptocurrencies

South Korean exchange Coinrail has resumed service after it was hacked last month. The exchange has offered users some options to recover their cryptocurrencies. Eleven cryptos were stolen, some of which have been fully recovered and are now available for… Continue Reading

Major Korean Exchange Bithumb Expanding into Japan and Thailand

One of South Korea’s largest cryptocurrency exchanges, Bithumb, is expanding into Japan and Thailand. The exchange is working on obtaining regulatory approval from the financial regulators of both countries. The new locations are part of the exchange’s global expansion plan.… Continue Reading

Only 12 out of 23 Korean Crypto Exchanges Pass Probe – Inspector Under Fire

The self-regulatory inspection of South Korean cryptocurrency exchanges is complete. Fourteen out of 23 exchanges agreed to be inspected. Twelve met the self-regulatory standards despite security flaws, raising questions of how effective the inspection is. Also read: Yahoo! Japan Confirms Entrance… Continue Reading

Korean Government Criticized for Crypto Exchange Hacks, Upbit Denies Hack Rumor

The South Korean government has been criticized for not doing enough to help prevent hacking at cryptocurrency exchanges. Data obtained by the regulators show that three crypto exchanges were hacked, with damage of almost $1 billion, after having gone through an… Continue Reading

Policy Easing, New Crypto Classification in South Korea

South Korea has been busy revising its cryptocurrency regulations. The regulators plan to ease the rules on crypto assets in line with G20 policies. While a new crypto classification system has been created, another government agency is conducting an on-site… Continue Reading

South Korea Thinks Real-Name System is Working – Stepping Up Crypto Monitoring

South Korea’s top financial regulator recently told 23 other countries’ regulators that the kimchi premium has fizzled since the anonymous trading of cryptocurrencies was banned in the country. Now, the government is introducing a new guideline to prevent local crypto… Continue Reading

Bithumb Lowers Theft Estimate – Will Fully Repay Customers Despite Deficient Insurance

South Korean exchange Bithumb has lowered its theft estimate from the original amount after undergoing some of the recovery process. The exchange promises to fully repay customers using its own fund even though its insurance is unlikely to cover the… Continue Reading

Korean Government Launches Investigation into Crypto Hacks

Following the alleged hacks of South Korean crypto exchanges, the government has formally launched an investigation into the cause of the hacks. The authorities will also perform security checks on all crypto exchanges’ systems. Also read: Yahoo! Japan Confirms Entrance Into the… Continue Reading

Korean Government Details Regulatory Plans After Multiple Crypto Exchange Hacks

Following multiple hack reports, the South Korean government explains how it will strengthen the regulatory framework for cryptocurrency exchanges. A bill has already been submitted which imposes multiple new obligations on crypto exchanges. Also read: Yahoo! Japan Confirms Entrance Into the… Continue Reading

Major Korean Crypto Exchange: $31 Million Vanishes

Bithumb, South Korea’s largest crypto exchange announced on its website that between Tuesday evening and Wednesday morning, Korean time, 35 billion won (about 31.5 million USD) worth of cryptocurrencies vanished. Just a few hours later, the announcement was taken down,… Continue Reading