Why is Asia the epicentre of crypto exchange hacks?
While exchanges in Europe and the U.S. have not been immune from cyber attacks, the majority of the largest cryptocurrency exchange hacks have occurred in Asian markets, with South Korea and Japan leading the scoreboard. The question is why?
Top Korean Gaming Companies Race to Integrate Cryptocurrencies
Korean gaming giant Nexon announced on Tuesday the acquisition of Korbit, Korea’s first ever Bitcoin Exchange, the second largest in volume behind Bithumb. Nexon’s holding company (NXC) announced its plans on Tuesday to acquire 125,000 shares of Korbit for 91.25 billion won (approximately US $80.3 million), giving it a 65.19 percent ownership stake in Korbit. The deal is being billed by Korea’s leading financial newspaper Hankyung as “the first large-scale merger & acquisition among domestic virtual currency-related companies.”
Korean stock exchange launches Blockchain-based startup market
The only securities exchange in Korea, Korea Exchange (KRX), recently launched a blockchain-based marketplace where equity in startup companies can be traded, called the Korean Startup Market (KSM).
Major Korean Bank to launch bitcoin-backed remittance service
One of Korea’s biggest financial institutions, Shinhan Bank, recently announced that they will be providing bitcoin remittance services for the Korea-China corridor starting in December. The development marks the first time that any major bank has announced a Bitcoin value transfer system.
Korbit launches Hyphen to provide cross-border payouts powered by blockchain tech
South Korea’s first bitcoin exchange and blockchain remittance provider is expanding into a more robust role offering APIs to other companies at very low fees.