Terraform Labs co-founder, others indicted in South Korea
Shin Hyun-Seong, co-founder of Terraform Labs, and nine other individuals were reportedly indicted by the financial crimes branch of the Seoul Southern District Prosecutor’s Office for the collapse of the Terra stablecoin ecosystem. After 11 months of investigation, ten individuals were indicted on fraud, violation of trust, and embezzlement charges and sent to trial. KBS […]
South Korean officials intensify efforts to arrest other Terra co-founders
Following the arrest of Terraform Labs co-founder Do Kwon in Montenegro, South Korean officials have intensified attempts to locate and arrest Shin Hyun-Seong, also known as Daniel Shin – Terra’s other co-founder. Since November 2022, South Korean authorities have suspected multiple Terra colleagues of aiding Do Kwon in promoting unstable and uncertain Terra (LUNA) and […]
South Korea launches Metaverse fund to advance domestic ideas
South Korea will promote various companies from the metaverse ecosystem’s mergers and acquisitions with the aid of the Metaverse Fund. South Korea increased its focus on the metaverse’s potential as a new source of economic growth as other nations’ economy became sidetracked by the hullabaloo surrounding cryptocurrency’s price volatility and ecosystem breakdowns. The Ministry of […]
South Korea’s Kimchi premium switches back to discount
Having switched back to a discount, South Korea’s “Kimchi premium” makes it less expensive to purchase cryptocurrencies like Bitcoin on local exchanges in the country. The kimchi dish from Korea inspired the name of the phenomenon. When Bitcoin trades at a greater price on South Korean exchanges than it does on other markets, this is […]
South Korea sets sanctions for North Korea over crypto theft
In response to cryptocurrency thefts and cyberattacks against well-known North Korean hacking groups, individuals, and organizations South Korea has imposed its first round of independent sanctions. Four North Korean people and seven firms have reportedly been added to a blacklist for allegedly participating in cyberattacks and cryptocurrency theft , according to Seoul’s Ministry of Foreign […]