Articles for tag: cryptocurrency exchanges, investor rights, legal protections, regulatory reforms, South Korea, system security, trading suspensions

January 6, 2025

Crypto Investors Face Losses Due to Legal Gaps Blocking Compensation for Service Disruptions

Cryptocurrency exchanges in South Korea are facing issues with frequent trading suspensions, leaving investors without compensation options due to a lack of legal protections. Recently, Upbit, the largest exchange, halted trading for about two hours for emergency maintenance, highlighting persistent system errors. Since January 2020, Bithumb and other exchanges have reported numerous disruptions, but current ...

December 29, 2024

Market News

Crypto

Bird Strike Investigated as Cause of South Korean Plane Crash: Insights from Experts

On December 29, 2024, a tragic crash involving Jeju Air Flight 7C2216 occurred at Muan International Airport, claiming the lives of 179 out of 181 passengers. Initial investigations are questioning whether a bird strike caused the incident, as experts noted the plane’s landing gear appeared non-functional during its belly-landing. There are concerns about the emergency ...

December 29, 2024

Market News

Crypto

Bird Strike Linked to Fatal South Korean Plane Crash, Experts Weigh In on Contributing Factors and Safety Measures

A recent crash involving Jeju Air Flight 7C2216 has raised many questions as experts investigate its deadly outcome. Initial theories suggesting a bird strike may have caused the incident are being scrutinized, especially since the plane’s landing gear was missing during its belly landing at Muan International Airport. The aircraft crashed, killing 179 out of ...

December 26, 2024

Market News

Crypto

Koreans Embrace Cryptocurrencies Amid Trump-Inspired Crypto Surge: Trends, Insights, and Investment Opportunities

The cryptocurrency investment wave in South Korea has seen a significant milestone, with over 15 million residents now involved, which is about 30% of the population. This surge is attributed to the optimism surrounding US President-elect Donald Trump’s commitment to enhancing the crypto Market. According to the Bank of Korea, the number of retail crypto ...

December 22, 2024

Market News

Crypto

S. Korea and US Team Up to Combat North Korea’s Cryptocurrency Heists Through Collaborative Research and Strategy

South Korea and the United States are teaming up to enhance protection against cryptocurrency thefts, particularly from North Korean hackers. They have recently signed an agreement to collaborate on developing technology to prevent such cyberattacks and track stolen digital assets. The South Korean science ministry will support this initiative until 2026 through a dedicated research ...

December 22, 2024

Market News

Crypto

S. Korea and US Collaborate on Research to Prevent North Korean Cryptocurrency Heists and Enhance Cybersecurity Measures

South Korea and the United States are teaming up to combat cryptocurrency theft, especially amid threats from North Korea-linked hackers. They’ve recently signed an agreement to collaborate on developing technologies that can prevent attacks and track stolen digital assets. This initiative, backed by South Korea’s science ministry, will last until 2026 and involves researchers from ...

December 4, 2024

Market News

Crypto

Understanding South Korea’s Brief Martial Law: Key Facts and Historical Context You Should Know

South Korean President Yoon Suk Yeol is facing possible impeachment following his abrupt declaration of martial law in Seoul, which sparked widespread condemnation. Opposition parties quickly moved to impeach him just hours after parliament voted to revoke his declaration, which lasted only six hours. Armed forces surrounded the parliament, leading to chaotic scenes as lawmakers ...

December 4, 2024

Market News

Crypto

Ripple’s XRP Experiences $4 Billion Profit-Taking as Whale Activity Surges

Ripple’s XRP experienced a temporary decline of 5% after South Korea declared martial law, resulting in increased selling activity and profit-taking among investors. However, XRP whales managed to secure over $4 billion in profits despite the downturn. Currently, XRP is trying to recover, aiming to breach the crucial $2.58 mark, which could pave the way ...

December 4, 2024

Market News

Crypto

Crisis in South Korea: What Are China, Russia, and North Korea Planning?

Recent political unrest in South Korea has shocked the country and its allies, especially the United States. President Yoon Suk Yeol unexpectedly declared martial law, claiming it was necessary to protect democracy from anti-state forces, but quickly reversed his decision amid widespread protests. This turmoil raises concerns about stability in a crucial U.S. military ally, ...

December 4, 2024

Market News

Crypto

Crisis in South Korea: Implications for China, Russia, and North Korea’s Geopolitical Interests

In a surprising move, South Korean President Yoon Suk Yeol declared martial law but quickly reversed it due to public backlash. This political upheaval raises concerns about the stability of a key US ally amid rising global tensions. The declaration, aimed at combating perceived anti-state forces, sparked protests and calls for Yoon’s resignation. The situation ...