Tax Evasion: South Korean Government Seize Over $184 Million in Crypto

South Korea’s National Tax Service has combined forces with the Ministry of Strategy and Finance, and other agencies as well as local government authorities, to seize over $184 million worth of Bitcoin (BTC) and altcoins from alleged tax evaders in…

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Korean tax authorities seize $185M worth of crypto from tax evaders since 2021

South Korean authorities have seized approximately $185 million worth of digital assets from tax delinquents since 2021, Yonhap news agency reported on September 22. The post Korean tax authorities seize $185M worth of crypto from tax evaders since 2021 appeared first on CryptoSlate.

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Old Mutual Wealth to Handle Cash Reserves of Rand-Backed Stablecoin ZARP

Financial Services Giant Old Mutual Wealth is appointed to control the reserved notes that back ZARP, the crypto stablecoin pinned to the worth of the South African Rand. The post Old Mutual Wealth to Handle Cash Reserves of Rand-Backed Stablecoin ZARP appeared first on BeInCrypto.

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World’s First Crypto Water Token Launches After Securing $150 Million Investment

A South Africa-based company wants to change the way the world funds water projects by leveraging blockchain technology and has received backing worth $150 million from an investor. The post World’s First Crypto Water Token Launches After Securing $150 Million Investment appeared first on BeInCrypto.

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U.S. prosecutors secures $34 million crypto assets forfeiture

The US Department of Justice had announced that it had secured the biggest cryptocurrency forfeiture after a South Florida resident forfeited $34 million worth of cryptocurrency tied to illegal dark web activities.

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Bitcoin Jumps as Do Kwon Buys $125 Million

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North Korea Accused of Stealing Over $1.7B in Crypto From Exchanges

North Korea has allegedly stolen over $1. 7 billion worth of crypto from exchanges over several years, South Korean media outlets report. The country has been using hackers to target individuals and companies from various parts of the world.

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47% of South Africans own Bitcoin (BTC), holding $70 worth on average

As conversations regarding the use and purchase of digital assets in Africa continues to gain ground, details have emerged that about 47 percent of South African adults hold at least one form of cryptocurrency.

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Remittance and Fiat Devaluation Drives 1200% Growth in Africa’s Crypto Market: Chainalysis Report

Africa, the smallest crypto-economy, which received $105.6 billion worth of cryptocurrency between July 2020 and June 2021, saw a growth of more than 1200% by value received in the last year. According to a report by Chainalysis, the region is seeing some of the highest grassroots adoption in the world, with Kenya, Nigeria, South Africa, […] The post Remittance and Fiat Devaluation Drives 1200% Growth in Africa’s Crypto Market: Chainalysis Report first appeared on BitcoinExchangeGuide.

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South Korean Crypto Investors Could Lose over $2.5 billion due to Regulatory Crackdown

With South Korean regulators set to shut down local cryptocurrency exchanges that fail to meet up the requirements before the deadline later in September, investors in the country could experience losses worth over $2.

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Terra sees a monthly burn of $185 million worth of LUNA tokens

LUNA, the native cryptocurrency of a project called Terra, recently saw a nearly 80% price surge over the course of the last week. The protocol, created by a team of developers from South Korea, even managed to surpass another leading project, Polygon (MATIC/USD), formerly known as Matic Network.

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South African Man Loses $900,000 Worth Of Bitcoin After Accidentally Deleting Keys

Bitcoin holding is only as good as long as the holder does not lose their keys. It is very important when it comes to holding to make sure that one’s keys are secure. This is because once the keys are lost, there is no way to recover the lost coins.

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$185 million worth of LUNA burned in past month as Terra user base grows

Terra’s native token LUNA rallied 79. 66% during the past seven days as the protocol developed by South Korean firm Terraform Labs surpassed Polygon (MATIC), recording the third-highest total value locked (TVL) among blockchains.

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33 face heat in Korea over alleged $1.48 billion in crypto transfers

Seoul’s Central Customs has prosecuted, fined, or is currently investigating 33 individuals who were allegedly involved in 1. 69 trillion won ($1. 48 billion) worth of illegal overseas cryptocurrency transactions in South Korea, The Korea Times reported today.

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69,000 Bitcoin worth $3.6 Billion Lost in South African Crypto Scam

It is suspected to be a money-laundering operation for international players. While South Africa’s FSCA is looking into Africrypt, they don't have jurisdiction as crypto assets are not legally considered financial products.

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$3.6 billion in Bitcoin (BTC) goes missing from South African exchange

Founders of AfriCrypt, a South African-based crypto investment platform, are missing along with 69,000 Bitcoin (BTC/USD) (currently worth $3. 6 billion) invested on the platform. The platform informed its investors in April that it was shutting down after a hacking incident that compromised customers’ accounts.

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Duo vanishes with 69,000 Bitcoin, stash worth $4 billion at peak BTC prices

Two South African brothers made away with nearly 69,000 Bitcoin earlier this year, hacking one ‘Africrypt,’ their own exchange platform, and bagging one of the biggest crypto heists in dollar terms ever.

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Korean Government Confiscates $47 Million in Crypto From Tax Evaders

South Korean authorities have identified thousands of tax evaders as part of an intensifying crackdown on tax dodging among crypto investors. Following a prolonged investigation, the government has reportedly seized cryptocurrency worth millions of dollars.

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$3.6B in Bitcoin vanishes in ‘hack’ along with owners of South African crypto platform

Billions worth of Bitcoin has reportedly vanished along with the operators of South African crypto firm AfriCrypt. Is it a scam or a hack?

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South African Tax Collector Targeting Crypto Investors in Its Bid to Raise Extra Revenues

Latest reports from South Africa suggest that the country’s tax agency will now be targeting cryptocurrency investors as it attempts to increase the total value of revenues collected. Alongside high net worth individuals and offshore investors, digital currency holders now constitute an area that is “likely to yield much of the extra tax” for the […]

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South American MercadoLibre Adds $7.8 Million worth Bitcoin to its Treasury

The online marketplace company also posted a larger quarterly loss, hit by a higher tax bill. Meanwhile, its fintech arm, Mercado Pago, reported a surge of 81. 8% in total payment volume during the pandemic.

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South African Women Lose Money to Crypto Scammer Who Convinced Them That Botswana Pula Coins Are Bitcoins

A group of South African investors recently confessed to losing money to a brazen scammer after he convinced them to buy and hold nearly worthless physical coins. The coins, which are denominated in the Bostwana pula currency, were initially sold to a group of South African women back in 2019 when bitcoin was only worth […]

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‘Extremely Bullish On Bitcoin’ – South Korean Gaming Giant Nexon Invests $100M In Bitcoin

While some companies strategically await a hike in Bitcoin’s price to seal the deal and key them into accumulating, the South Korea Gaming giant Nexon has quickly swept in a whopping $100 million worth of Bitcoin.

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South Korean Gaming Giant Nexon Snaps Up $100 Million Worth of Bitcoin

South Korean gaming giant Nexon now owns $100 million worth of Bitcoin

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Korean tax officers seize $22M in crypto directly from exchange accounts

South Korea’s Seoul metropolitan government has seized 25 billion won ($22 million) worth of crypto from tax evaders—directly out of their exchange accounts, local news outlet Yonhap reported yesterday.

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Tax Authority Seizes Cryptocurrencies Worth $25 Million From Hundreds of Crypto Investors in South Korea

The tax department of the Seoul metropolitan government in South Korea has reportedly seized cryptocurrencies worth about $25 million from hundreds of crypto investors with delinquent taxes. The cryptocurrencies, including bitcoin, were seized from three exchanges.

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Seoul government seizes $22M worth of crypto from tax evaders

The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents.

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Sale of MTI Bitcoins in South Africa Briefly Wipes out Premium Buyers

The premium or arbitrage gap on bitcoin in South Africa recently turned negative following the offloading of coins worth over $75 million by liquidators of MTI. As a result of the temporary supply glut, buying bitcoins on local South African exchanges briefly became cheaper than buying on overseas exchanges.

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Digital yuan campaign planned for contested island in the South China Sea

Participants will receive a discount for every central bank digital currency expenditure worth 100 yuan.

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South Korean Tax Agency Identifies Over 2,400 Evaders Who Used Cryptocurrencies to Bypass Taxation

South Korean authorities seem to be focusing on strengthening measures to combat tax evasion across the nation. The country’s tax watchdog profiled thousands of evaders that relied on cryptocurrencies to hide assets worth billions of Korean won.

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Microsoft uses blockchain technology to purchase soil carbon credits in Australia

The tech giant purchased 43,338 metric tons worth of soil carbon credits that are representative of carbon sequestration at ranches in New South Wales.

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South Korean Gaming Giant Planning to Buy Crypto Exchange Bithumb for $460 Million

Nexon, the South Korean multi-billion-dollar gaming conglomerate, is reportedly planning to buy a 65% stake in troubled crypto exchange Bithumb in a deal worth about 500 billion won ($460 million). ● According to local media reports, Nexon is to buy all the shares owned by Bithumb chairman Lee Jung Hoon, including several others totaling up […]

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Bithumb reportedly put up for sale for $600 million

South Korean largest cryptocurrency exchange Bithumb is reportedly on sale again. The deal could be worth $600 million.

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Lebanon: Raging Monetary Crisis Means Lebanese Lira Is Now Worth One Satoshi

The Lebanese Republic, a Western Asian nation bothered by Israel to the South and Cyprus to the west, has been faced with serious economic turmoil in recent times, with the nation’s currency, the Lebanese Lira now trading at 9,600 against the U.

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Major Silicon Chip Maker for BTC Mining Machines, TSMC, to Build $12B Plant in Arizona

A Taiwan Semiconductor Manufacturing Co (TSMC) one of the largest semiconductor chip manufacturer revealed plans to open another manufacturing plant in the US state of Arizona, worth $12 billion dollars under its global expansion plans, reported South China Morning Post.

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South Korea: Blockchain R&D Fund Worth $400 Million Under Consideration by Government

Amid growing concerns of China pulling away in the emerging digital economy, South Korea’s government is set to invest $400 million in blockchain research and development (R&D) as the country looks to revamp its digital technology sector.

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Binance Charged with Embezzling $860k Worth of Crypto Funds

Crypto exchange Binance was accused of freezing an account worth around $1 million. The owner accuses the platform of embezzlement, but the company says it simply followed the requirements of the South Korean police.

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Upbit Blames South Korea’s Taxation and KYC Hurdles in Foreigners’ Frozen Funds Saga

Upbit crypto exchange woes are still on after it emerged that foreign clients to this South Korean firm are yet to withdraw their ‘frozen’ funds. The platform suffered a blow when close to $50 million worth of Ether was stolen upon a successful hack towards the end of 2019. Most of the affected clients are […]

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South Korea: Hacked Crypto Exchange Upbit Finally Resumes ETH Deposits and Withdrawals

Upbit, a top South Korea-based cryptocurrency exchange that lost $51 million worth of ether (ETH) to hackers last year, has announced that it has resumed deposits and withdrawals for the altcoin, reports Business Korea on January 14, 2019.

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Korea’s Tax Agency to Withhold $70M From Crypto Exchange Bithumb

South Korea's National Tax Service will withhold tax worth $70 million from the country's largest crypto exchange Bithumb.

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2,000 Ethereum moved by Upbit hacker to unknown wallet

Upbit, a South Korean exchange woke up to a major hack on 27 November, resulting in the loss of $51.7 million worth of Ethereum. Ever since the hack, many exchanges came forward to freeze the movementThe post 2,000 Ethereum moved by Upbit hacker to unknown wallet appeared first on AMBCrypto.

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Ethereum: Stolen Upbit funds worth $1.6 million moved

The hackers walked away with $51.7 million worth of Ethereum by attacking Upbit, a prominent South Korean exchange. Ever since the hack, the community has come together to track the movement of funds The post Ethereum: Stolen Upbit funds worth $1.6 million moved appeared first on AMBCrypto.

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Upbit hackers move stolen Ethereum funds, claims report

Upbit, a prominent South Korean exchange, was hacked on 27 November, resulting in the exchange losing $51.7 million worth of Ethereum. This amount, reportedly, was moved on 28 November. According to TThe post Upbit hackers move stolen Ethereum funds, claims report appeared first on AMBCrypto.

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Bitcoin Bull Case Builds as Price Holds $7,500 Range; What’s Next?

On Wednesday morning, it seemed as though things were about to go south for the Bitcoin market yet again. For those who missed the memo, notable Korean cryptocurrency exchange Upbit revealed that it had been hacked for $50 million worth of Ethereum (ETH), sparking an immediate 2% sell-off that some described as a “black swan”.

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$50 Million ETH Hacked From South Korean Exchange

Some $50 million worth of eth has been hacked today from one of the biggest crypto exchange in South Korea, Upbit. They say: “At 1:06 PM on November 27, 2019,... The post $50 Million ETH Hacked From South Korean Exchange appeared first on Trustnodes.

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South Korea: Crypto Exchange UpBit Hacked; Reports $51 Million Ethereum (ETH) Withdrawal

Major South Korean cryptocurrency exchange, UpBit, announced that over 340,000 worth of Ethereum (ETH) was transferred to an anonymous wallet. While the exchange did not explicitly mention a hack attack nor specify how the withdrawal was done, the company pledged to cover up the missing funds.

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Binance Commits to Freezing Stolen Upbit Funds After $50M Hack

South Korean cryptocurrency exchange Upbit has reportedly been hacked for around $50M worth of Ethereum (ETH). Binance and other exchanges have stepped up to stop the assets from being sold off. It has been reported that Upbit, one of the leading South Korean exchanges, has suffered a serious hack.

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$50 million stolen from Upbit: Latest Updates

On 27 November, the South Korean crypto exchange Upbit announced successful hacking attack that resulted in 342,000 ETH worth $50 million fleeing away.

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UPbit’s hacker leaves with $50 million worth of Ether

UPbit, one of the largest cryptocurrency exchanges based in South Korea, confirmed that it was hacked after rumors were mounting. In a statement, the platform announced that all trading activities, deposits, and withdrawals were temporarily suspended until further notice.

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