South Korea

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Bithumb Lowers Theft Estimate – Will Fully Repay Customers Despite Deficient Insurance

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South Korean exchange Bithumb has lowered its theft estimate from the original amount after undergoing some of the recovery process. The exchange promises to fully repay customers using its own fund even though its insurance is unlikely to cover the loss. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Theft Amount Reduced South Korea’s … Read more

Sixth-Largest Crypto Exchange Bithumb Hacked, $30 Million Lost

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The world’s sixth-largest cryptocurrency exchange, Bithumb, was hacked and approximately $30 million worth of cryptocurrencies were stolen. The exchange broke the news of the hack via Twitter, where it also informed its users that it was changing its wallet system due to safety concerns. This isn’t the first time that Bithumb, which is the second-largest … Read more

Investigation Underway: Korean Government Seeks Cause of Crypto Hacks

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Following the alleged hacks of South Korean crypto exchanges, the government has formally launched an investigation into the cause of the hacks. The authorities will also perform security checks on all crypto exchanges’ systems. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Government’s Response The South Korean government announced on Wednesday, June 20, that it … Read more

South Korea’s Cryptocurrency Industry Sees a Growing Number of Trading Bots

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Trading bots have been playing an increasingly important role in the world of cryptocurrency. That in itself is a very positive development, although it may lead to a lot more speculation and volatility. It seems a few bots are making their mark on the South Korean cryptocurrency industry these days, which is well worth keeping … Read more