Updates on exchange rules, enforcement, investor trends, and Korea’s active crypto trading culture.
Investigations revealed that Kang Jong-hyun is the brother of Kang Ji-yeon who is the head of Inbiogen-an affiliate that holds about 34.2% stake in Bithumb.
Christian Nwobodo 2 min read 
The accused individuals sent around $3.2B out of S. Korea under false pretenses, violating foreign exchange laws, to buy crypto abroad.
In the meantime, Huobi global's quarterly revenue fell -98% since the second quarter of 2021.
The National Tax Service opened a "special tax investigation" into Bithumb, including the individual Kang Jong-hyeon, who is alleged to be the company owner.
Huobi Korea chairman Jo Guk-Bong will buy the majority stakes from Huobi global founder Leon Lin.
Binance is in the process of acquiring Gopax, however, the South Korean exchange has about $471 million of customers' fund locked in Genesis.
Lee Jung-Hoon, who was accused of swindling $70 million from BK Group chairman Kim Byung-gun, was acquitted of all charges.
Binance is reportedly completing its acquisition of Korean crypto exchange Gopax after finishing due diligence.
North Korea is allegedly investing these funds into its nuclear missile program.
