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Freezing and seizing assets, exchange garnishment, fraud recovery and enforcement in Korea.
Legislation in the UK now permits swift freezing and seizure of cryptocurrencies linked to criminal activities. This measure aims to expedite the apprehension of cryptocurrency criminals by introducing a “fast-track” process for investigations. The UK Home Office has enacted a…
A U.S. federal court in Washington, D.C., overseeing a forfeiture case against a North Korean virtual currency account, has ruled in favor of the U.S. government, ordering the forfeiture of the account. Judge Timothy Kelly granted a “judgment in absentia,”…
Dunamu, the company behind the cryptocurrency exchange Upbit, has refunded approximately $5 million to 246 victims of voice phishing scams spanning from 2017 to 2022. This was made possible through a memorandum of understanding with the Seoul Metropolitan Police Department’s…
Confiscated cryptocurrency assets used in crimes are now being returned more efficiently. Investigators no longer need personal accounts; they use a corporate one linked to the prosecutors’ office. This system, made with the FIU and exchanges, sells assets for Korean…
The UK Parliament passed a bill allowing the government to seize and freeze virtual assets. According to Cointelegraph on Sep. 26 (local time), the UK’s Economic Crime and Corporate Transparency Bill was approved. The bill was introduced in September 2022…
Tether, the stablecoin issuer, has frozen 32 cryptocurrency wallets with a total value of $873,118, suspected of being used to secure war materials, including weapons, by Hamas, the Palestinian militant group. These actions were taken in collaboration with Israel’s National…
After National Assembly member Kim Nam-guk raised suspicions about holding large amounts of cryptocurrency, financial authorities started imposing stringent standards and restricting transactions on even slightly suspicious accounts. Previously, overseas virtual asset transactions were comparatively unrestricted if taxes were properly…
Overview of the Case The defendant in this case requested that the plaintiff lend Bitcoin at an interest rate (or usage fee, hereinafter referred to as “interest”) of 10% per annum. As the repayment deadline approached, the plaintiff repeatedly asked…
The prosecution is taking significant steps to develop its own tracking system specifically designed for “Kimchi coins,” which are coins traded exclusively on domestic exchanges. With the rise in cryptocurrency-related cases and the prevalent use of Kimchi coins in domestic…
The Financial Services Commission (“FSC”) announced on the 28th of last month that it prepared measures against voice phishing done through virtual asset exchanges and prepaid businesses that previously could not suspend payments even if such crime was reported. In…