Korea

South-Korean-prosecutors-raid-crypto-exchanges-amid-Luna-probe
South Korean Prosecutors Raid Exchanges Amid Luna Probe

Prosecutors on Monday raided the homes and offices of four cryptocurrency exchanges. A total of 15 places, including cryptocurrency exchanges and related offices, were searched. The two men, Do Kwon and Daniel Shin have denied any wrong doing. South Korean authorities carried out search and seizure operations at local cryptocurrency exchanges, as well as offices that are affiliated with the collapse of cryptocurrency Luna in May, seeking proof of illegal activity. The prosecutors on Monday raided the homes and offices of four cryptocurrency exchanges as part of an investigation into alleged fraud by the co-founders of blockchain platform Terraform labs.

Terra-LUNAUST-Core-Designers-Grounded-by-South-Korean-Authorities
Terra LUNA/UST Core Designers Grounded by South Korean Authorities

Terra’s main designers face a departure ban from South Korea.  The Republic of Korea is taking its LUNA and UST investigation very seriously.  South Korea pushed its 20% Bitcoin (BTC) tax to 2025. Reports say that South Korean authorities are putting a ban on LUNA/UST employees and developers from leaving the country. In detail, it seems that Terra’s main designers cannot leave South Korea.  As we can see from Blockworks’ tweet above, the news came from a JTBC article. In fact, the article goes on to explain the situation with Terra and the South Korean authorities. It is no secret

Korean-Exchanges-To-Be-Penalized-for-LUNA-Demise
Korean Exchanges To Be Penalized for LUNA Demise

South Korea will penalize cryptocurrency exchanges based in the country for damages to LUNA investors. Authorities also urged crypto exchanges to freeze funds held by LUNA Foundation Guard. Sources say the police have found evidence suggesting LFG is guilty of embezzlement. South Korea will be penalizing cryptocurrency exchanges based in the country over the collapse of LUNA and UST. According to various media sources, these exchanges will be liable for damages to LUNA investors. In addition, the Seoul Police Cybercrime Investigation Unit has reached out to exchanges, urging them to freeze funds held by LUNA Foundation Guard (LFG). This happened

Binance Partners with YG to Launch BIGBANG NFTS
Binance Partners with YG to Launch BIGBANG NFTS

Binance and YG Entertainment have agreed to partner to issue NFTs. YG manages leading k-pop groups like BIGBANG and BLACKPINK. Also, YG is the last Big 4 k-pop company to venture into crypto Binance exchange has taken its ecosystem to the next level with a new deal with renowned Korean company YG Entertainment Inc (YG). The deal aims to create an eco-friendly ecosystem across Metaverse, NFTs, and possibly gaming. YG is one of the top four leading Korean entertainment companies. The company manages K-pop superstars like BIGBANG, BLACKPINK, iKon, and Treasure to name a few. Notably, YG will provide Binance