South Korea | ForkLog

ForkLog 18 17.03.2025

South Korea Dismisses Idea of Strategic Bitcoin Reserve

The Bank of Korea has “never considered” including Bitcoin in its foreign exchange reserves and views such a prospect “with caution,” according to Korea Economic Daily. The regulator clarified its stance in response to a query from a member of the National Assembly’s Strategy and Finance Committee. The primary deterrent cited by the South Korean […]

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ForkLog 11 10.02.2025

South Korean Authorities Accuse DeepSeek of Excessive Data Collection

South Korea’s intelligence agency has accused the Chinese AI application DeepSeek of “excessive” collection of personal information and using input data for self-learning. This was reported by Reuters, citing a statement from the authorities. The National Intelligence Service of South Korea (NIS) has already issued an official notice to government agencies, urging them to implement […]

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ForkLog 11 03.02.2025

Bitcoin’s ‘Kimchi Premium’ Hits Three-Year High

On February 3rd, the ‘kimchi premium’ on Bitcoin—a measure of price inflation on South Korean crypto exchanges—reached a three-year high, exceeding 11.9%. #Bitcoin Kimchi Premium is 12% right now—a three-year high. The main reason for BTC drop seems to be the strong DXY. pic.twitter.com/fjFOyUH5Pr — Ki Young Ju (@ki_young_ju) February 3, 2025 The widening price […]

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ForkLog 47 10.01.2025

South Korean entertainment executive accused of crypto scam

Kang Seung-kon, a director at major South Korean production house Cube Entertainment, is suspected of deceiving crypto investors, according to local outlet Hankyung. According to unnamed sources, he urged acquaintances and colleagues to invest in the Nestree (EGG) cryptocurrency issued by blockchain project Nestree Media Group. Kang also allegedly guaranteed the return of capital. In […]

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ForkLog 34 26.12.2024

Former Bithumb Holdings CEO Sentenced to 4.5 Years for Bribery

The former CEO of Bithumb Holding, An Seong-hun, has been found guilty of fraud and sentenced to 4.5 years in prison. The decision was handed down by the Seoul Southern District Court on December 26, according to local media. Court documents reveal that between September and November 2021, An Seong-hun, along with another former CEO […]

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ForkLog 23 10.12.2024

South Korea Delays Cryptocurrency Tax Implementation Until 2027

The South Korean government has postponed the introduction of new cryptocurrency taxes until 2027, according to a local Telegram channel. The tax in question is a 20% levy on profits from cryptocurrency transactions exceeding 2.5 million Korean won. Authorities have been working on the relevant amendment since 2020. Initially, the new tax was scheduled for […]

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ForkLog 13 03.12.2024

Military Rule Sends South Korean Crypto Market into Tailspin

On December 3, the South Korean crypto market plummeted following the imposition of martial law in the country. This was reported by journalist Colin Wu. Breaking: The all Korean won trading pairs on Korean exchanges suddenly began to plummet, with Bitcoin even falling to $79,167 and XRP falling to $1.89. They are now recovering. https://t.co/ddi2RcNnXu […]

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ForkLog 18 03.12.2024

South Korean Crypto Market Surpasses Stock Market in Trading Volume

On December 2, the daily trading volume of cryptocurrencies among retail traders in South Korea reached $18 billion, surpassing the stock market’s equivalent figure of $14 billion by 22%. This was reported in a 10x Research report. The most popular cryptocurrency of the day was Ripple’s XRP, with a trading volume of $6.3 billion. Dogecoin […]

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ForkLog 18 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 17 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 10 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 11 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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