Everything web3, crypto, defi, degen
Three people involved in a bogus crypto exchange that defrauded 50,000 victims out of more than $1.4 billion will avoid jail time.The unnamed accomplices were sentenced for their roles in running V Global in South Korea, and ordered to pay substantial fines.A 60-year-old woman known only as “Ms. A” was fined about $436,000, while 63-year-old…
Upbit, South Korea’s largest exchange by volume, confirmed plans on Tuesday to launch its own Ethereum Layer 2 network, GIWA, as part of a broader infrastructure push, a month after trademark filings hinted at the project.Shortly before the confirmation, Dunamu CEO Oh Kyung-seok teased details of the project in a keynote speech at the Upbit…
In brief Do Kwon, the founder of Terraform Labs, has been denied the ability of claiming back a $15.1 million down payment he made for a luxury Singapore apartment. The Singapore High Court awarded the developer of the property an extra month’s rent, as Kwon’s wife overstayed the lease. Luxury apartment complex Sculptura Ardmore was…
In brief A wallet linked to Tron founder Justin Sun was blacklisted by World Liberty Financial after moving $9 million in WLFI tokens. WLFI token has dropped 19% to $0.18, with retail traders who bought at launch prices above $0.33 now down 45%, while early investors like Sun remain profitable with 10x+ gains Sun denied…
In brief World Liberty Financial’s governance token hit a new low price on Thursday, just days after trading began. The token appears most popular among traders in South Korea, based on exchange volumes. Some analysts warned that the WLFI token could “decimate” retail investors, while presale buyers remain well in profit. World Liberty Financial, the…
In brief Polygon’s Aishwary Gupta says no Indian government department wants ownership of stablecoin regulation, creating bureaucratic deadlock across agencies. Gupta estimates India could save $68 billion annually through stablecoin integration, but regulatory uncertainty prevents banks from acting. 80-85% of India’s top crypto talent has relocated internationally, Gupta said, while Asian neighbors advance clear stablecoin…
In brief A hacking syndicate allegedly stole $28.1 million (₩39 billion) from financial and crypto accounts of 258 wealthy Koreans, including celebrities and top business executives. The largest single crypto theft reached $15.4 million (₩21.3 billion), though authorities haven’t specified what portion of the total losses was in crypto. The case exposes systematic vulnerabilities in…
In brief Executives from stablecoin issuers Circle and Tether are set to meet with top figures in some of South Korea’s biggest financial groups this week, according to reports in local media. The discussions will reportedly revolve around the potential distribution and use of dollar-pegged stablecoins in South Korea, as well as the issuance of…
In brief South Korea has temporarily suspended new crypto lending services, citing a lack of user protection. This development comes after a recent incident at Bithumb that resulted in widespread liquidations. Analysts suggest the accumulation of leverage has made the crypto market more fragile and susceptible to liquidation risks. South Korean financial authorities have temporarily…
In brief While AI speeds up coding and playtesting, devs worry about privacy, cost, and creative control. Small studios see AI as a chance to compete, while larger publishers struggle to adapt. From smarter NPCs to new jobs, developers say AI is remaking game development. Nearly nine in 10 game developers say they’ve already built…
