Fri, May 24

Manta Network Suspected Of Money Laundering Post Binance Listing

In a shocking turn of events, Manta Network, a zero-knowledge Layer 2 blockchain, has found itself embroiled in controversy as allegations of money laundering surface following its listing on major exchanges such as Binance, Bithumb, and KuCoin. The storm began when approximately 2 million MANTA tokens were reportedly transferred to

January 19, 2024 2 mins read

Bithumb Eyes Market Revival With IPO on KOSDAQ

One of South Korea’s most renowned cryptocurrency trading platforms, Bithumb, is apparently preparing for a historic Initial Public Offering (IPO) on KOSDAQ. The Korea Exchange (KRX) in South Korea launched its trading board, KOSDAQ, in 1996. Initially established by the Korea Financial Investment Association as a separate stock market from

November 12, 2023 2 mins read

Upbit and Bithumb Exchanges Raided by South Korean Authorities

The prosecutors in South Korea have conducted a raid on the two local crypto exchanges as part of the investigation into the digital assets of lawmaker Kim Nam-kuk.  Yonhap, a South Korean news agency, reported that a group of prosecutors from the Seoul southern district office raided the two crypto

May 15, 2023 1 min read

Authorities Arrest Bithumb Owner Over Charges of Embezzlement

Embezzlement accusations have resulted in the arrest of the presumed true owner of Bithumb, South Korea’s biggest cryptocurrency exchange. Media outlets in his own country claim that Kang Jong-hyun was taken into custody on suspicion of embezzlement on February 2. Moreover, on January 25th, the Seoul Southern District Court issued

February 2, 2023 1 min read

S.Korean Tax Authorities Reportedly Launches Inquiry Against Bithumb

It has been reported that the South Korean National Tax Service (NTS) has launched a special tax inquiry against Bithumb Korea and Bithumb Holdings. To check on the cryptocurrency platform’s compliance with local taxes regulations. Both Kang Jong-hyeon (who is widely believed to be the exchange’s true owner) and his

January 12, 2023 1 min read

Former Chair of Bithumb Exchange Acquitted in $70M Fraud Case

On January 3, 2023, the 34th Division of the Criminal Agreement of the Seoul Central District Court acquitted Lee Jung-hoon, the former head of the South Korean cryptocurrency exchange Bithumb. During his trial, Jung-hoon faced charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes. The

January 3, 2023 2 mins read

Litecoin(LTC), the Next LUNA? Exchanges Worried!

LTC brings out new privacy protocol updates. Exchanges worried over the new update. LTC may face the same fate as that of LUNA. Usually, a token gets an update to upgrade itself, specializing it more for the users. More the users and circulation, more will be the value of that

May 23, 2022 2 mins read

South Korean Banking Regulations Threatens ‘Big 4’ Crypto Exchanges

AML and Banking regulations are a threat to the Big 4 crypto exchange. More than 100 smaller exchanges are expected to close. Due to AML protocol, Banks are unhappy. Anti-money laundering(Aml) and banking regulations newly imposed by South Korea, causing tensions that have even left the big four domestic crypto

May 4, 2021 2 mins read

Seoul Police Seized South Korean’s Crypto Exchange Bithumb for Third Time

Bithumb, the largest cryptocurrency exchange in South Korea, was reportedly raided for the third time, by Seoul Metropolitan Police Agency’s Intelligent Crime Investigation Unit. Police reportedly seized a number of shares in Bithumb Holdings. Despite this, the holdings belongs to Bithumb Korea Director Kim Byung-Geon. In contrast, the seizure action

September 16, 2020 2 mins read

Seoul Police Seized South Korean’s Crypto Exchange Bithumb for Second Time

Seoul Metropolitan Police Agency’s Intelligent Crime Investigation Unit raided Bithumb for the second time in connection to the BXA token fraud allegations against its Chairman. Bithumb is the largest crypto asset exchange in South Korea. It has over 8 million registered users. One million mobile app users and the current

September 8, 2020 1 min read