Crypto-related crimes led to over $2-billion loss in 2 years in South Korea
While the authorities proposed a way to put an end to the practice, its proposed guidelines were rejected by the court on the basis that it would be inappropriate for the government to order digital currency exchanges to shut down their corporate accounts.
Notably, the published figures do not include losses from crypto exchange hacks, which have been a problem in the country. Last year, hackers targeted the nation’s largest crypto exchange, Bithumb, stealing some $30 million in cryptocurrency, although the company said it had managed to retrieve a large portion of that sum.
Earlier this year, Bithumb experienced a new incident, which resulted in the loss of some $13 million. The exchange said at the time that the theft was an insider job and that the stolen funds were owned by the company and not investors.
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