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10.02.26 - 08:06
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South Korean crypto exchange races to recover $40bn of bitcoin sent to customers by mistake (The Guardian)
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Bithumb has apologised for staff error that sent customers 620,000 bitcoins instead of 620,000 Korean won, equivalent to a few hundred US dollarsSouth Korea's second-largest cryptocurrency exchange is scrambling to recover more than $40bn of cryptocurrency after accidentally crediting customers with 620,000 bitcoins during a promotional event last week.Bithumb said it had corrected most of the mistaken credits, but that about 13bn won ($9m) remained unrecovered after some recipients sold or withdrew the funds before the error was detected. Continue reading......
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06.02.26 - 14:24
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House Launches Investigation Into ′Discriminatory′ South Korean Regulators After Trump Hits Seoul With 25% Tariff (ZeroHedge)
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House Launches Investigation Into 'Discriminatory' South Korean Regulators After Trump Hits Seoul With 25% Tariff
The House Judiciary Committee has opened a formal investigation into whether South Korean regulators are unfairly targeting American technology companies, as the two allies with a long history of economic and security cooperation find themselves embroiled in a heated dispute over trade, technology, and regulatory oversight - with government accusing the other of unfair practices.
Last October we highlighted that South Korea has effectively been extracting money from US tech firms in the form of fines and other punitive measures via the Korea Fair Trade Commission (KFTC). While the commission's stated goal is to enforce antitrust laws, they've essentially morphed into bridge trolls, according to US officials.
In 2016, Qualcomm was hit with an $854 million penalty for what it called unfair business practices. In 2021, Google was hit with a $177 million fine for dominat...
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