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#Financial Supervisory Service

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Crypto Exchange Bithumb Hacked via Employee System Amid Wave of Cyberattacks on South Korean Financial Firms
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Crypto Exchange Bithumb Hacked via Employee System Amid Wave of Cyberattacks on South Korean Financial Firms

Key Highlights: Bithumb, South Korea’s second-largest cryptocurrency exchange, experienced a cybersecurity breach targeting an internal mobile messaging and workplace system used by staff. No cryptocurrency holdings or user funds have been reported stolen, as the compromised workplace network operates independently from the main trading engine. South Korea’s Financial Supervisory Service is evaluating the incident alongside ...

Seoul Court Acquits ‘Jonber Kim’ in Massive $253M Crypto Scam Case
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Seoul Court Acquits ‘Jonber Kim’ in Massive $253M Crypto Scam Case

Key Highlights: The Seoul Southern District Court rejected prosecutors’ bid for a 20-year sentence and a $14 million asset seizure against an individual identified as Park, citing insufficient evidence of market manipulation. Judges ruled that while deceptive white papers were distributed, prosecutors failed to prove they directly induced victims to purchase the tokens rather than ...