News View Non-AMP

Crypto Alert: $13 Million of Investor Funds Frozen in South Korea!

Published by
Mustafa Mulla

In South Korea, over 33,000 crypto investors are locked out of approximately $13 million in assets due to the shutdown of several exchanges, as reported on October 14. Fourteen exchanges have closed or paused operations in line with new regulations under the Virtual Asset User Protection Act. Representative Kang Min-Kuk revealed that the situation could worsen, with around 30.7 billion won ($22 million) potentially tied up in temporarily halted platforms. Among the affected exchanges, Cashierest held the most assets at 13 billion won ($9.4 million). As regulatory pressures rise, more exchanges might follow suit, raising concerns for investors seeking to reclaim their funds.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Will Dogecoin (DOGE) Crash or Skyrocket?: Data

Amid market uncertainty, Dogecoin (DOGE), a popular and the world’s largest crypto meme coin, appears…

April 1, 2025

Should Shiba Inu (SHIB) & Dogecoin (DOGE) Be Worried? Panshibi (SHIBI) Emerges As Best New Investment Pick This Easter!

According to historical footprints in the global crypto market, festive seasons are always important for…

April 1, 2025

Massive Buys Continue Into Panshibi (SHIBI) The Wildcard Launch As Pepe (PEPE) & Shiba Inu (SHIB) Investors Join The Bull-Run

Pepe Coin (PEPE) continues to struggle. Resistance limits upward momentum, and even a potential rally…

April 1, 2025

Remittix Closes In On $15 Million Raised As $RTX Becomes Top Predicted Presale In 2025

The cryptocurrency market attracts two main groups: financial investors and technology enthusiasts who coexist with…

April 1, 2025

ExoraPad Presale Explodes Past 55,000 XRP as Investors Prepare for Massive $EXP Token Breakout

The XRP ecosystem is buzzing with optimism as investors position themselves for the next big…

April 1, 2025

Key US Economic Events This Week: How They Could Impact Crypto

The crypto market has been on an upward trend, reaching a new high of $2.73…

April 1, 2025