Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
  • News
    • NFT News
    • Metaverse News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • DeFi News
    • Blockchain News
    • Web3 News
    • Press Release
    • Hacks and Scams
    • Sponsored Post
  • Stories
    • Interviews
  • Market Analysis
  • Learn
    • Bitcoin
    • Ethereum
    • Cryptocurrency Exchange
    • NFTs
    • DeFi
    • Web3
    • Metaverse
    • Blockchain
    • Trading
    • Crypto Guide
    • Quizzes
  • Crypto Prices
  • Contact Us
Reading: Over $7.2B in Crypto Exchange Transacted Since June
Newsletter
Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
[ccpw id="20060"]
Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
  • News
    • NFT News
    • Metaverse News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • DeFi News
    • Blockchain News
    • Web3 News
    • Press Release
    • Hacks and Scams
    • Sponsored Post
  • Stories
    • Interviews
  • Market Analysis
  • Learn
    • Bitcoin
    • Ethereum
    • Cryptocurrency Exchange
    • NFTs
    • DeFi
    • Web3
    • Metaverse
    • Blockchain
    • Trading
    • Crypto Guide
    • Quizzes
  • Crypto Prices
  • Contact Us
Reading: Over $7.2B in Crypto Exchange Transacted Since June
Newsletter
Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
[ccpw id="20060"]
  • News
  • Stories
  • Market Analysis
  • Learn
  • Crypto Prices
  • Contact Us
Search
  • News
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • CBDC
    • Crypto Exchange News
    • Cryptocurrencies
    • DeFi News
    • Ethereum News
    • Hacks and Scams
    • Litecoin News
    • Metaverse News
    • NFT News
    • Press Release
    • Ripples News
    • Sponsored Post
    • Web3 News
  • Stories
    • Interviews
  • Market Analysis
  • Learn
    • Bitcoin
    • Blockchain
    • Crypto Guide
    • Cryptocurrency Exchange
    • DeFi
    • Ethereum
    • Metaverse
    • NFTs
    • Trading
    • Web3
    • Quizzes
  • Crypto Prices
  • Contact Us

Trending →

Bitcoin to Reclaim 90% Dominance In 2025 Amid Altcoins Surge

By Grace.Ezinne 3 days ago

Bitcoin to Reclaim 90% Dominance In 2025 Amid Altcoins Surge

By Ezinne Ukaegbu 3 days ago

World Liberty Financial Buys $3.5M of Ethereum

By Grace.Ezinne 1 week ago

The Evolution of Digital Coins: Unlocking the Future of Blockchain

By Rita Umukoro 1 month ago

Vatan Token: Its Rise in the Cryptocurrency Industry

By Rita Umukoro 2 months ago
Follow US
© Coins Creed. All Rights Reserved.

Home » Over $7.2B in Crypto Exchange Transacted Since June

Crypto Exchange NewsNews

Over $7.2B in Crypto Exchange Transacted Since June

Juliet Okeke
Last updated: September 22, 2022 7:41 am
By Juliet Okeke
Share
2 Min Read
SHARE
According to the study, most of the Crypto Exchange transfers were made in U.S. dollars, and the majority of the money went to Hong Kong.
Over $7.2B in Crypto Exchange Transacted Since June
Over $7.2B in Crypto Exchange Transacted Since June

According to South Korea’s banking authority, there have been $7.2 billion in “abnormal” foreign Crypto Exchange transfers since June, the majority of which were made through cryptocurrency exchanges, according to a Thursday report by Bloomberg.

Additional “abnormal” money transactions totaling $680 million were discovered by the Financial Supervisory Service.

The investigation of transfers from Hana Bank, Kookmin Bank, Nonghyup Bank, Shinhan Bank, Woori Bank, and seven other banks in the nation would be finished by the end of October, according to the article.

The study also stated that 82% of the payments were made in US dollars and that Hong Kong received the majority of the monies.

16 people were detained in South Korea last month for taking part in $2 billion in unlawful foreign currency trades. According to an earlier story from Bloomberg, South Korea was looking into Woori and Shinhan for sending $3.4 billion offshore.

A local media site also stated on Thursday that due to unpaid taxes, officials had taken 259.8 billion won ($184.4 million).

The Financial Services Commission also intends to swiftly implement new crypto regulations as South Korea intensifies its crackdown on illicit cryptocurrency activity. There are currently 13 proposals linked to digital assets in the works.

Do Kwon, a co-founder of Terra, has been placed under custody, and South Korea has requested that Interpol issue a “red notice” for Kwon so that he may be apprehended wherever he may be found. Following the collapse of the $40 billion Terra ecosystem and the accompanying shockwaves that shook the cryptocurrency markets and resulted in a number of bankruptcies, arrest warrants were issued for Kwon and five other Korean nationals.

When contacted by a news outlet, the Financial Supervisory Service was unavailable to comment right away.

TAGGED:BloombergCrypto ExchangeSouth Korea
Share This Article
Facebook Twitter Copy Link

You Might Also Like ↷

Victory Securities, Hong Kong's First Virtual Asset Retail Broker

HKMA Warns Crypto ‘Banks’ Against Misleading Claims

September 15, 2023
BNB Smart Chain Scam Reportedly Reduces by 75% in Q3

BNB Smart Chain Scam Reportedly Reduces by 75% in Q3

November 7, 2023
Currency.com halts services to Russian users

Currency.com halts services to Russian users

April 12, 2022
Hybrid DEX/CEX exchange Cryptocurrencies AI raises $8 million, taps Binance liquidity

Hybrid DEX/CEX exchange Cryptocurrencies AI raises $8 million, taps Binance liquidity

May 20, 2021
Coinscreed
Stay tuned for a blend of captivating content that not only informs but also inspires you to navigate the ever-evolving landscape of technology, marketing, and market trends!
Coinscreed
FacebookLike
TwitterFollow
InstagramFollow

All Rights Reserved. Coinscreed 2024.

adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist