the Seoul Central District Court ruled that Bithumb will have to reimburse about 1.1 billion won—nearly $1 million—to the users damaged by the bug. But, they will not be compensated at bitcoin’s current price, which is more than 10 times what it was when the users’ bitcoins were lost.
-
-
EY and Samsung only bidder for South Korea’s digital won project
The Bank of Korea has extended the deadline for bids on the contract to build and test a central bank digital currency
That deadline was extended until Oct. 29 after it received only one bid, from the EY Hanyoung Consortium, a group led by big four auditing firm Ernst & Young, SDNet South Korea reported on Oct. 20.
-
Police seize ‘major’ South Korean crypto exchange Coinbit, 99% of volume was fake
Law enforcement raided Coinbit’s offices, confiscating $84 million in allegedly illegal profits and searching several locations including the firm’s Seoul headquarters
South Korean law enforcement estimates that Coinbit raked in at least 100 billion won (over $84 million) through its alleged unfair practices. The exchange’s actions are believed to have negatively affected its 252,000 monthly active users.
-
Feds track Bitcoin to break up child porn ring
The huge child pornography ring was among the first to use Bitcoin to fund its illicit operation, the U.S. Attorney said; more than one million bitcoin addresses found
Federal prosecutors said that they successfully back-traced Bitcoin transactions to break up a major child pornography ring.
