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Tag Archives: South

South Korea’s Gyeongbuk Province Launches ‘Special Committee’ to Create Blockchain Hub

The government of South Korea’s Gyeongbuk province has launched a “Blockchain Special Committee” with the goal of creating a blockchain hub in the region, local media outlet Daily News reported Nov. 14. North Gyeongsang Province, also known as Gyeongbuk, plans to create a blockchain hub, inviting 40 domestic and foreign experts in the industry to consult on the project. Lee ...

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$30M Crypto Exit Scam in South Korea Decides to Refund Out of Guilt

Twitter Facebook LinkedIn Earlier this week, a crypto exit scam in South Korea called “Pure Bit” disappeared with more than $30 million in user funds. On November 4, the group conducted an initial coin offering (ICO) to raise nearly $30 million using Ethereum (ETH) to build a cryptocurrency exchange. On November 13, as CCN reported, Pure Bit and its operators ...

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South Korea’s First Crypto Fund Shut Down Over Regulatory Pressure

South Korea is a very interesting region when it comes to cryptocurrencies. In most cases, there is nothing but positive news first and foremost. At the same time, local regulators are looking for ways to ensure the industry gains more legitimacy. This has forced the first cryptocurrency fund in the country to shut down effective immediately. A Major Setback in ...

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Major South Korean Hospital to Use Blockchain Tech for Medical Information Services

One of the South Korea’s largest hospitals has partnered with a local tech company to develop a medical services platform based on blockchain technology, according to the hospital’s official press release Nov. 12. Myongji Hospital, located in the city of Goyang, South Korea, has signed a Memorandum of Understanding (MoU) with Korean IT company BICube, which markets itself as a ...

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South Korea’s Zeniex Closes Amid Government Crackdown on Unauthorized Crypto Exchanges

South Korea’s cryptocurrency exchange Zeniex will soon terminate its services due to a recent government crackdown on unauthorized platforms, a post by Zeniex reveals Friday, Nov. 9. The crypto exchange, a joint project by South Korea and China which opened May 2018, states in the post that due to “recent issues,” they have “come to the conclusion that continuing to ...

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South Korean Crypto Exchange Pure Bit Exit Scams with 13,000 Ether

Twitter Facebook LinkedIn According to Korean blockchain news provider Blockchain ROK, newcomer exchange Pure Bit has effectively exit scammed with at least 13,000 in investor Ethereum in hand. As evidence of the scam, BROK points to the fact that the exchange’s CEO has changed his name on popular Korean social media network Kakao to “I’m sorry” in the “high formality” ...

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Fraudulent South Korean Exchange Pure Bit Nabs $2.8M in ICO Exit Scam

A South Korean ICO has defrauded its private sale investors out of roughly 13,500 ETH ($2.8 million) before disappearing from the internet entirely. Pure Bit, which has already pulled the plug on its website, has apparently conducted a fairly routine exit scam for its Pure Coin token sale. The cryptocurrency was pitched as an exchange token for Pure Bit, an exchange ...

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South Korea to Triple the Budget for Blockchain Projects Compared to 2018

The South Korean government has agreed to invest $35 million in next year’s budget to develop blockchain technology and industry related to distributed ledger technology (DLT), South Korea’s largest economic information service company Korea Economic Daily reported Nov. 8. South Korea’s government has held a meeting on industry related to DLT and blockchain technology with the participation of the Ministry ...

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5 Arrested in South Korea For Injecting Crypto Malware in 6,000 PCs

Twitter Facebook LinkedIn Five men in South Korea were arrested on Thursday for illicitly injecting crypto mining malware into more than 6,000 computers. Local police and the Korean National Police Agency Cyber Bureau said in an official statement that a group of five hackers led by a 24-year-old Kim Amu-gae released 32,435 emails containing cryptocurrency mining malware targeting desktop users ...

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