KEB Hana Bank, BitGo to Launch Crypto Custody Venture
KEB Hana Bank, one of the largest banks in South Korea, is set to offer digital asset custody services through a new partnership with the leading BitGo Trust Company in the second half of 2024. Yonhap reported that KEB Hana Bank and BitGo jointly signed a strategic business agreement to establish digital asset custody in […]
South Korea to Introduce Bill to Freeze North Korean Crypto Assets
According to reports, the South Korean government intends to introduce a measure to track and freeze North Korean virtual and crypto assets used to fund illicit weapons programs. According to a report by a local news outlet, Korea JoongAng Daily, multiple anonymous government sources confirmed on August 3 that the bill is in the works. […]
Delio Admits to Losing Millions After Suspending $67.95M Deposits
Delio, a South Korean crypto-finance platform, has disclosed its deposit figures and loss projections for the first time since it halted withdrawal services in June. The company faces a challenging situation as it tries to recover from the losses and compensate its users. According to a statement from Delio, the platform’s deposits stand at approximately […]
Naver Corp Launches Generative AI Chatbot in South Korea
South Korean internet giant and tech company Naver Corp. has launched a ChatGPT-like chatbot dubbed CLOVA X. It is a Korean language chatbot that can have conversations and summarize text. In response to OpenAI’s ChatGPT, the South Korean tech company Naver Corp has unveiled CLOVA X, its newest generative AI chatbot designed for Korean-language users. […]
Bitsonic CEO Faces Arrest in South Korea
The CEO of the cryptocurrency exchange Bitsonic, Jinwook Shin, who is under investigation for stealing users’ investments and deposits, was detained by South Korean Police on August 7, according to Chosun Biz. According to prosecutors, Shin allegedly stole the equivalent of $7.5 million from exchange users by manipulating the prices and trading volume of cryptocurrencies […]