south korean – DIGIT INFO

Plastic Surgery Fails to Help Crypto Scammer Evade Arrest After 10 Months

DIGIT — Mon, 02 Sep 2024 03:30:51 +0000

South Korean police arrested a man in his 40s for orchestrating a cryptocurrency scam that defrauded 158 investors of 16 billion won ($12 million). Operating from November 2021 to June 2022, he promised an 18% monthly return on investments in a fake cryptocurrency mining business. The scam resulted in individual losses ranging from 1.2 million […]

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Korean Crypto Exchanges Upbit, Bithumb Raided Over Lawmaker’s Crypto Dealings

DIGIT — Wed, 17 May 2023 06:00:01 +0000

South Korean prosecutors have raided two of the country’s largest coin trading platforms within an investigation into the crypto investments of a politician. They seized materials from Upbit and Bithumb amid suspicions of wrongdoing related to the lawmaker’s cryptocurrency holdings. South Korean Law Enforcement Authorities Check Records From 3 Crypto Platforms Investigators from the Seoul […]

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South Korean Politician Quits Party Over Crypto Scandal

DIGIT — Mon, 15 May 2023 08:30:43 +0000

A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities. Lawmaker Leaves South Korean Opposition Party Over Crypto Holdings Kim Nam-kuk, […]

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Do Kwon’s Terraform Sent $7 Million to Law Firm Before Collapse, Report Unveils

DIGIT — Sun, 16 Apr 2023 12:00:08 +0000

Prosecutors investigating failed blockchain firm Terraform Labs have found out that its Singapore office sent millions of U.S. dollars to lawyers just before the crash of its cryptocurrencies. According to Korean media, the transfers suggest that co-founder Do Kwon was aware of the imminent collapse. Terraform Labs Transferred Large Amounts of Money to South Korean […]

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South Korean Court Denies Arrest Warrant for Terraform Co-Founder Daniel Shin

DIGIT — Sat, 01 Apr 2023 06:30:28 +0000

A court in South Korea has again denied the arrest warrant for Daniel Shin, a co-founder of Terraform Labs who is being investigated for fraud. Shin has been accused of illegally profiting from the sale of over $100 million worth of the luna cryptocurrency before it collapsed. Seoul Court Leaves Terraform Co-Founder at Large Citing […]

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Report: DOJ and FBI Investigating Terraform Labs in Connection to Algorithmic Stablecoin Collapse

DIGIT — Tue, 14 Mar 2023 14:00:02 +0000

The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned by U.S. law enforcement. Unusual Relationship: […]

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Seoul Sanctions North Korea Over Crypto Theft

DIGIT — Sun, 12 Feb 2023 11:00:25 +0000

South Korea has imposed sanctions on the North in relation to a number of cyberattacks often resulting in the theft of cryptocurrency. The authorities in Seoul say the regime in Pyongyang is using the digital assets to fund its nuclear and missile development projects. South Korea Hits North Korean Hackers With First Cybercrime Sanctions The […]

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North Korea Stole Record Amount of Crypto Assets in 2022, UN Report Unveils

DIGIT — Wed, 08 Feb 2023 05:30:35 +0000

The regime in North Korea has managed to steal more cryptocurrency last year than in previous years, according to a draft U.N. report. Despite the difference between quoted estimates, the authors conclude that 2022 was a record-breaking year for crypto theft, to be blamed on the hermit state. Cybercrime Groups Linked to North Korea Get […]

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South Korea Seizes $184 Million in Crypto Assets From Alleged Tax Dodgers, Reports Reveal

DIGIT — Sat, 24 Sep 2022 06:30:27 +0000

The government in South Korea has seized cryptocurrency worth around $184 million in two years due to tax arrears, according to local media. The authorities in Seoul started confiscating virtual assets from people accused of tax evasion in 2021. Almost 260 Billion Won in Crypto Seized for Tax Evasion in South Korea The amount of […]

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South Korean Government’s Youtube Channel Hacked to Play Crypto Video With Elon Musk

DIGIT — Sun, 04 Sep 2022 07:30:17 +0000

The official Youtube channel of the South Korean government has been hacked on Saturday and those who did it, broadcasted a cryptocurrency-related clip. The video also featured billionaire and crypto enthusiast Elon Musk, local media reported quoting sources in Seoul. Hackers Air Interview With Musk via Korean Government’s Youtube Account The official Youtube channel of […]

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