South Korean cryptocurrency exchange Bithumb ran up first half profits of $35 million, ten times smaller than profits for the previous accounting year, in the wake of a high-profile hack on the exchange in June.
BitPay, the largest global blockchain payments provider, today announced a partnership with Bithumb, one of the world’s largest crypto exchanges.
In addition to the alleged ICO fraud, Lee Jung-hoon is also under investigation for alleged fraud, tax evasion and transferring assets out of South Korea irregularly, authorities said.
South Korean cryptocurrency exchange Bithumb has secured $200 million in fresh funding from a Japanese blockchain investment fund as part of a wider Series A funding round.
South Korean exchanges hit a snag as government bans banks from backing them.
Bithumb has announced its plans to open up the platform and allow its users to use cryptocurrency at more than 8,000 stores by the end of this year.
Cryptocurrency exchange Bithumb kicked off the second day of the Deconomy 2018 with an overview of South Korea’s growing cryptocurrency market, considered to be the largest in the world.
Against the backdrop of the ongoing bear market, only Upbit turned a profit for the year, bucking the trend which saw Bithumb, Coinone and Korbit post heavy losses for the period.
South Korea is gripped by a child porn scandal that has caused national uproar. And now, the four largest digital currency exchanges are helping investigators.
The proposal for blockchain industry, as well as cryptocurrency exchanges, that would see entities in the spaces be permanently added to the government’s official list of certified venture firms has now been shot down.
Representatives from the South Korean banking industry have said they will limit services to cryptocurrency traders who haven’t converted to real-name accounts, in a move designed to shake up the 50 to 60% of accounts that still remain unverified.
Two of the biggest cryptocurrency exchanges in South Korea are requiring accounts to provide real names before allowing withdrawals in Korean won.
