POSCO International, South Korea’s largest trading company, has begun tokenizing trade receivables on blockchain in a test that could speed up commercial payments between its global subsidiaries. The company, which generated $22.2 billion in revenue last year from businesses spanning steel, energy and battery materials, is working with LG CNS, the technology arm of LG […]
North Korean authorities arrested former military hackers accused of stealing state funds from two banks and laundering the proceeds through cryptocurrency. The group, according to a Daily NK report citing an anonymous source in Pyongyang, allegedly breached the internal systems of the Central Bank of the DPRK and Foreign Trade Bank, diverted foreign currency and […]
XRP is back at the top of South Korean trading screens. The token’s won pair was the most traded market on Upbit over the past 24 hours, with about $110.9 million in volume, ahead of bitcoin’s $88.6 million and ether’s $67 million, CoinGecko data shows. On Bithumb, XRP/KRW recorded about $41 million in volume, ranking […]
A Manhattan federal judge has cleared the way for Aave’s recovery effort to move forward after last month’s North Korea-linked rsETH exploit, allowing $71 million in frozen ether to be transferred out of Arbitrum while preserving North Korean terrorism victims’ legal claim on the funds. In a two-page order published late Friday U.S. time, Judge […]
Lawyers seeking to seize $71 million in frozen ether for victims of North Korean terrorism changed their legal strategy Tuesday, arguing in a new court filing that the April 18 rsETH exploit was not theft but fraud, directly countering Aave’s attempt to void a restraining notice blocking the release of the assets. In a 30-page […]
South Korean financial authorities are planning sanctions against crypto exchanges who are operating illegally in the country, business newspaper Hankyung reported on Friday. The Financial Intelligence Unit (FIU) classified a number of exchanges who are not registered as Virtual Asset Service Providers (VASPs) as targets for sanctions, according to the report. The exchanges targeted – […]