South Korean Crypto Exchange Bithumb Re-opens Deposits & Withdrawals

South Korean cryptocurrency exchange Bithumb will resume deposit and withdrawal services on Saturday at 11 am KST. The exchange had suspended all deposits and withdrawal services on its platform following the June hack on a hot wallet, which led to the loss of tokens valued at over $30 million. Hacked Crypto Exchange Bithumb Unfreezes Withdrawals

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Bank Freeze Forces Korean Crypto Exchange Bithumb to Disable New Accounts: Report

South Korean crypto exchange giant Bithumb has suspended the issuance of new KYC bank-linked virtual accounts after failure to renew and establish a contract with a bank, as mandated by new guidelines this year. Starting today, August 1, Bithumb – one of Korea’s ‘big four’ exchanges – is no longer issuing new virtual accounts to

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Crypto Market Rebounds, Bithumb Drives Kimchi Premium Up 50%

Bithumb, formerly the biggest crypto exchange in South Korea, has driven the Kimchi Premium up 30 percent on major tokens, inflating the price of cryptocurrencies. Bithumb, the Bad Actor On June 20, as CCN reported, Bithumb was hacked for $40 million. The Financial Services Commission (FSC) and Korea Financial Intelligence Unit (KFIU) were involved in

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Binance Will Face Tough Competition in South Korea in New Market Expansion

Binance, the world’s largest cryptocurrency exchange, is planning an expansion into South Korea, the third biggest cryptocurrency market behind Japan and the US. South Korea’s Unique Market Structure In South Korea, two major digital asset trading platforms have had dominance over the crypto exchange market for several years. UPbit, an exchange created and developed by

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Most Complex dApp on Ethereum Already Has Millions of Dollars at Stake

Augur, which its co-founder Joey Krug previously described as the most complex decentralized application (dApp) on the Ethereum blockchain, has surpassed a million dollars at stake and demonstrated a rapid growth rate over the past few weeks. Future of Decentralized Betting In essence, Augur is a decentralized betting platform that exists on the Ethereum network.

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Korean Crypto Giant Bithumb Eyes Japan and Thailand for Expansion

South Korean exchange Bithumb has announced that it will open new offices in Japan and Thailand. According to local news outlet ZDNet, Bithumb is awaiting the approval of Japanese Financial Services Agency (FSA) and Thai Securities and Exchange Commission (SEC). Cryptocurrency Regulations in Japan & Thailand Bithumb explained that it chose Thailand because the e-commerce and fin-tech

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All Crypto Exchanges in South Korea Meet New Requirements, New Money to Come in

The South Korea Blockchain Association has approved 12 crypto exchanges including Bithumb and UPbit over the past week, of having adequate security measures and internal management systems in place. Various local publications reported that Bithumb, UPbit, Gopax, OKCoin Korea, Korbit, Coineone, CoinZest, CPDAXX, HanbitKor, Huobi Korea, and NeoFrame, and DexKor were approved by the South

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South Korea is Officially Recognizing Crypto Exchanges as Regulated Banks

For the first time in history, the government of South Korea has officially recognized crypto exchanges regulated financial institutions and banks. Local publications in South Korea have reported that the financial authorities of South Korea have finalized their plans to categorize crypto exchanges as an industry called “Cryptocurrency Exchange and Brokerage” to enable trading platforms

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Bithumb Has Recovered Nearly Half of Funds Stolen in Last Week’s Hack

Cryptocurrency exchange Bithumb claims that it has recovered nearly half of the funds stolen in a recent high-profile hack at the South Korean trading platform. As CCN reported, hackers breached Bithumb’s online hot wallets on June 20, making off with approximately 35 billion KRW (~$31 billion) before the exchange operator was able to transfer its

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Bithumb Hack ‘Doesn’t Really Change the Fundamentals of Bitcoin’: Charlie Lee

Charlie Lee, the founder of Litecoin, went on CNBC’s Fast Money program on Wednesday to discuss the recent hacking of South Korea’s cryptocurrency exchange Bithumb, among other developments in the crypto sphere. Speaking via telephone, the founder of the world’s fifth-largest cryptocurrency by market cap pointed out that while it is normal for cryptocurrency investors to

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