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Tag Archives: Korean

South Korean Banking Group to Launch Blockchain-Powered ID Verification Platform

A group of South Korean commercial banks will launch a blockchain-powered customer ID verification platform in July 2018, local news outlet Korea JoongAng Daily reports today, June 12. According the report, the Korea Federation of Banks (KFB) will launch their “BankSign” identity verification system to be used in both online computer-based and mobile banking.  According to Korea JoongAng Daily, the ...

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Korean Banks to Use Samsung SDS Blockchain to Verify Customer IDs from July

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! A national banking group representing South Korea’s commercial banks will launch a customer ID verification powered by blockchain technology in July. The Korea Federation of Banks (KFB) will officially launch “BankSign”, a blockchain-based identity verification platform that will enable retail domestic banks to improve ...

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Korean Cryptocurrency Exchange Coinrail Suffers $40 Million Theft

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! South Korean cryptocurrency exchange Coinrail said it was the victim of a hack on Sunday, with reported losses of about 40 billion won ($37.2 million) in cryptocurrency. In a blog post on Monday, Coinrail confirmed it had suspended its services following a “cyber intrusion” ...

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South Korean Crypto Exchange Bithumb Cleared by Government

After a three-month long investigation, the South Korean government finds no evidence of wrongdoing at the Bithumb crypto exchange, local media report June 8. Bithumb is currently the largest cryptocurrency in Korea and the seventh largest in the world by trade volume, according to data from Coinmarketcap. According to reports, the investigation into the exchange began on January 10 and ...

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South Korean Hospital Now Accepts Virtual Currency

Getting more businesses to accept cryptocurrency payments has been a very big challenge. So far, it seems most mainstream businesses have very little overall interest in the cryptocurrency industry. KMP Health Care Seoul, on the other hand, will offer medical services to customers who pay using cryptocurrency. South Korea Continues to Surprise Even though Bitcoin and other cryptocurrencies are of ...

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Crypto Exchange Coinone’s Margin Trading is Illegal Gambling: Korean Police

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Following a 10-month investigation by its cybercrime unit, a South Korean police department confirmed it would recommend prosecuting cryptocurrency exchange giant Coinone on charges of illegal gambling. According to a Yonhap report, a southern provincial police department in South Korea has determined that Coinone’s margin trading service ...

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South Korean Supreme Court Rules Bitcoin Is an Asset

South Korea’s Supreme Court just ruled that bitcoin is a legally recognizable asset. The landmark ruling occurred on May 30, 2018, and it overturns a decision made by one of the country’s lower courts in a case dating back to last year. In September 2017, the Suwon District Court charged 33-year-old Ahn with the sale and distribution of child pornography. ...

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Huobi Partners With Korean And Chinese Investors to Support Blockchain Initiatives

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Huobi, the global cryptocurrency exchange, has partnered with NewMargin Capital and Kiwoom Securities Co., Ltd. to start an investment fund to support blockchain enterprises in China and South Korea and encourage cooperation among the enterprises, according to China Money Network. The fund is targeting 100 billion won ...

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