This is the official subreddit of [GOPAX](https://www.gopax.com/), an international crypto-to-crypto exchange based out of Korea. GOPAX.com features BTC-, ETH- and DAI- pairings for all listed cryptocurrencies. For discussion regarding the Korean crypto-to-fiat exchange, please visit gopaxkr.
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Korean Insurance Company Providing Hack Insurance for Exchanges
Just reported in thenews.asia Korea-based Hanwha Insurance plans to begin sales of hack insurance for money stolen due to cyber crime on crypto exchanges this month. The insurance rate will be based on the risk generated by an exchange. The amount of risk will be determined by the insurance company and a reinsurance company in cooperation with exchanges. The type of hack insurance currently provided in Korea only compensates for the leakage of personal information. The new product will also compensate for damages caused by a loss of digital assets. The new hack insurance is a great step toward setting more stringent security standards for exchanges. If hack insurance becomes mandatory or even just prevalent in the industry, exchanges wishing to stay profitable would need to find ways to shore up security breaches in their platforms in order to pay lower premiums on their insurance. Assuming the insurance is not prohibitively expensive nor provides sub-par compensation, it should be a product every exchange carries.
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South Korea’s national policy committee has passed an amendment establishing a legal framework for cryptocurrencies. It requires crypto exchanges and service providers to register with the country’s financial regulator and comply with the recommendations set by the Financial Action Task Force.
South Korea largest crypto exchange Bithumb office in the Gangnam District according to reports has been raided by Seoul police over an investigation into Bithumb, the largest South Korean crypto exchange by trading volume, has been raided by the Seoul police. The South Korea Blockchain Association has approved 12 crypto exchanges including Bithumb and UPbit over the past week, of having adequate security measures and internal management systems in place. Kookmin Bank, the largest commercial bank in South Korea, will start offering Bitcoin custody services through a new partnership with exchange Cumberland Korea and blockchain venture fund Hashed. According to a blog post by Hashed’s legal compliance officer Jin Kang on Aug 7, Hashed formed a strategic partnership with KB... Crypto exchange Bithumb has reportedly been seized by police in Seoul on allegations that its chairman engaged in investment
Majors Korean Crypto Exchange Accused of Washing #Trading ...
10: Umbrel ☂ bitcoin & Lightning Node Raspberry Pi 4 Setup Install #2 🚀 https://www.reddit.com/r/Bitcoin/comments/ihj7n4/umbrel_bitcoin_lightning_node_... PRE- REGISTER to Crypto Exchange Enter into our draw to receive prizes worth more than $10,000 in BCH and 25% off trading fees for 3 months. LOCAL.BITCOIN.com Ongoing Referral Competition (According to an Aug. 26 report by the Seoul Shinmun, 99% of transaction volume on the #exchange was faked through wash #trading, This is how they maintain t... Javier from Bithumb joins me to discuss the Korean crypto scene, and taking Bithumb global! Disclosure: This is an unpaid interview for a project that was deemed worthy of research time, recording ... A group of North Korean hackers operating under the name “Lazarus” targeted several crypto exchanges last year, according to a report published by Chainalysis.