South Korean Court Acquits Crypto Exchange Bithumb In Hack Lawsuit

News | December 27, 2018 By:

South Korean cryptocurrency exchange Bithumb has won a lawsuit in which an investor accused the exchange of allowing hackers to steal his cash and crypto holdings.

According to court documents, the investor, Ahn Park, claimed that on Nov. 30 2017, he placed more than 400 million Korean won ($355,000 USD) in his Bithumb account and within hours an unidentified hacker had compromised his account and exchanged the cash for ethereum,


South Korean Authorities Arrest Nine Darknet Drug Dealers For Selling Narcotics With Crypto

Crime, News | December 26, 2018 By:

South Korean authorities have arrested nine drug dealers who allegedly sold narcotics via a hidden online space using cryptocurrency.

On December 23, the Seoul Central District Prosecutors’ Office said that the suspects were using a drug trafficking site on the darknet. The suspect to whom the website is registered has been identified by the surname Shin.


South Korea Plans To Tax Cryptocurrencies And ICOs, Says Incoming Finance Minister

ICO News, News, Regulation | December 4, 2018 By:

Hong Nam-ki, South Korea’s incoming finance minister, said that the government is planning to tax cryptocurrencies and initial coin offerings (ICO).

In a written statement submitted to the National Assembly for his confirmation hearing, Hong said that the taxation plan would be finalized in accordance with the creation and progress of the taxation infrastructure and the trend on international discussions.