South Korean authorities have dismantled a large-scale cryptocurrency money laundering operation valued at nearly Rs. 890 crore, exposing the growing misuse of digital assets in cross-border financial crime. The network, allegedly operated by Chinese nationals, used crypto transactions to move illicit funds out of the country while evading regulatory oversight. Investigators say the group exploited… Continue reading South Korea Uncovers Rs. 890 Crore Crypto Laundering Network Linked to Cross-Border Crime
Tag: South Korea
Mirae Asset’s Korbit Takeover Bid Signals Strategic Realignment in South Korea’s Crypto Industry
Mirae Asset’s move to pursue a takeover of Korbit marks a pivotal moment for South Korea’s cryptocurrency market, highlighting accelerating consolidation and deeper institutional involvement in digital assets. The bid reflects growing confidence among traditional financial players that crypto trading and infrastructure are transitioning from speculative sidelines to regulated, long-term businesses. For Korbit, one of… Continue reading Mirae Asset’s Korbit Takeover Bid Signals Strategic Realignment in South Korea’s Crypto Industry
South Korean Court Jails Crypto Exchange Operator for Espionage Linked to Digital Asset Payments
A South Korean court has sentenced the operator of a domestic cryptocurrency exchange to four years in prison for facilitating the transfer of military intelligence to a North Korean agent in exchange for digital assets worth nearly Rs. 5 crore. The ruling, upheld by the Supreme Court, underscores growing security concerns around the misuse of… Continue reading South Korean Court Jails Crypto Exchange Operator for Espionage Linked to Digital Asset Payments
Crypto Deal Fuels New Billionaires: Inside the Sale of South Korea’s Largest Exchange
A landmark acquisition has transformed two long‑time executives of a leading South Korean cryptocurrency exchange into billionaires almost overnight. The pair sold their firm to a major fintech conglomerate in a high‑profile stock‑swap agreement that valued the combined entity at approximately US $13.6 billion (roughly Rs. ___ crore). The deal is being considered one of the largest in crypto… Continue reading Crypto Deal Fuels New Billionaires: Inside the Sale of South Korea’s Largest Exchange
South Korean Crypto Exchanges Record 1,400-Fold Surge in Transactions Tied to Sanctioned Cambodian Entities
South Korea’s digital asset market has come under renewed scrutiny following revelations of a dramatic rise in cryptocurrency flows linked to sanctioned Cambodian entities. According to recent findings, transaction volumes associated with these entities surged nearly 1,400 times in 2024, prompting regulators to intensify their oversight of cross-border digital transactions. The discovery underscores growing concerns… Continue reading South Korean Crypto Exchanges Record 1,400-Fold Surge in Transactions Tied to Sanctioned Cambodian Entities
South Korea Mandates KRW Stablecoins to Trade Exclusively on Binance
Title: South Korea Mandates KRW Stablecoins to Trade Exclusively on Binance SummarySouth Korea has introduced a landmark regulatory requirement stipulating that KRW-backed stablecoins must now be traded exclusively on Binance, the global cryptocurrency exchange. This move signals the country’s effort to streamline stablecoin markets, enhance regulatory oversight, and ensure investor protection amid growing digital asset… Continue reading South Korea Mandates KRW Stablecoins to Trade Exclusively on Binance