According to a new report from U.S.-based security firm Recorded Future published on Oct. 25, the North Korean government has sponsored at least two scam coins. In the report entitled “Shifting Patterns in Internet Use Reveal Adaptable and Innovative North Korean Ruling Elite,” Recorded Future’s research team Insikt Group mentions two alleged altcoin scams tied to North Korea. The first scam coin allegedly backed by North Korea is called Interstellar coin, and was found by Insikt Group in June 2018. The coin has reportedly been rebranded a number of times, going by various names such as HOLD, HUZU, or Stellar. …

South Korea’s Financial Services Commission (FSC) has issued a statement to warn investors to be cautious while investing in cryptocurrency funds, according to documents published on the official FSC website on Oct. 24. According to the FSC, investors might be misled by cryptocurrency funds, mistakenly believing that those public funds represent legal investing tools that comply with South Korea’s Capital Markets Act. Citing the act, the FCS stated that public fundraising schemes must be approved and registered with the commission in order to operate legally. However, according to the FCS, such crypto funds are neither approved or registered, meaning that …

The largest port in Europe, the Port of Rotterdam, has partnered with major Dutch bank ABN AMRO and the IT subsidiary of Samsung to test blockchain for shipping, a press-release from Samsung reports Monday, Oct. 22. According to Samsung SDS – the IT and tech division created by Korean tech giant Samsung – the trial will focus on shipping containers from an unnamed factory in Asia to the port of Rotterdam. The first test will be completed by the three above-mentioned parties, with plans to later open the network to other companies. As per the Port of Rotterdam’s official announcement, …

Samsung’s production wing, Samsung Foundry, has launched a new production process of its 7-nanometer (nm) Low Power Plus (7LPP) process node, which could reduce its energy consumption by up to 50 percent, according to an official press release Oct. 18. The new process, based on extreme ultraviolet (EUV) lithography technology, makes the new 7LPP chips more dense (area efficient) and energy efficient. This could have positive implications for crypto miners usings Samsung’s hardware, as energy costs prove to be a critical factor in the industry’s profitability. As mining hardware develops at a rapid pace, chips continue to become smaller and …

China’s first Bitcoin (BTC) exchange BTCC, formerly known as BTC China, is set to launch trading services in South Korea, Korean business outlet The Investor reported yesterday, October 16. BTCC, which presently has headquarters in Hong Kong, will reportedly start beta services for trading in South Korea later this month and make its official debut in the market in November. According to the BTCC website, the Korean service — headed by Lee Jae-beom — will span a trading platform, wallet service, mining pool, and a service to enable consumer payments: “BTCC is establishing an on/offline payment system using cryptocurrency… [and …

Leading South Korean financial holding company KB Financial Group Inc. has been awarded a patent for a blockchain-based fintech app security solution, South Korean economic news outlets The Digital Times reports Monday, Oct. 15. KB Financial is reported to have over $342 billion in assets under management and presides over multiple overseas and domestic subsidiaries, among them KB Kookmin Bank, the country’s largest bank and also the 60th largest bank globally as of 2017. KB’s new patent focuses on a blockchain-based solution to improve an “essential” security program for fintech applications. The newly patented technology reportedly separates this security program …

Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week CNBC’s Ran Neuner Claims Bitcoin’s Price Is Set To “Explode” Ran Neuner, crypto analyst and host of CNBC’s show Cryptotrader, said this week that the price of Bitcoin is “about to explode.” In a series of tweets, the trader predicted that a notable Bitcoin rally could be tied to the SEC’s upcoming decision …

The chairman of Korea’s Financial Services Commission Choi Jong-koo has reaffirmed his negative position on digital currencies and Initial Coin Offerings (ICOs), Business Korea reported Oct. 11. Choi spoke at a parliamentary audit session of the commission held at the National Assembly. South Korea prohibited ICOs in September last year, stating that such a type of fundraising is “almost a gamble.” This August, Korean lawmakers, including participants from government ministries, returned to the cryptocurrency issue, focusing on repealing the country's ICO ban. Lawmakers agreed on the need to develop a related policy before carrying a resolution on ICO reallowance. At …

A group led by one of South Korea's leading plastic surgeons, Dr. Kim Byung Gun, has made a major investment in crypto exchange Bithumb’s holding company. Bloomberg reported the news Friday, Oct. 12. The surgeon’s BK Global Consortium has closed a deal to acquire “50 percent plus one share” of BTC Holding Co. – the largest investor in Bithumb’s operator – for around 400 billion won ($352 million), Bloomberg reports, citing a Bithumb spokesperson. The report states that BK Global Consortium was already the “fifth-largest” shareholder of BTC Holding. According to Bloomberg’s source, the transaction is to be finalized in …

South Korean government is “likely” to announce its official position on Initial Coin Offerings (ICOs) in November. A local business newspaper The Investor reported this on Thursday, Oct. 11, citing a “top official,” Hong Nam-ki. As per the chief of the office for Government Policy Coordination Hong Nam-ki, South Korean officials have already held several discussions on ICOs. As soon as the results are in, the government will finalize and reveal its official stance, he said. South Korea first banned ICOs back in September 2017, saying that the practice of raising funds via the issuance of cryptocurrency tokens was almost …

South Korea mobile messaging giant Kakao Corp. unveiled the testnet version of its new blockchain platform Monday, October 8, ahead of a formal launch in Q1 2019, local media outlet Korea Herald reports. The platform, dubbed Klaytn, is the brainchild of Kakao subsidiary Ground X. Focused on decentralized apps (‘DApps’), developers are currently working with around ten domestic and international partners to experiment with the new ecosystem. A meetup to introduce Klaytn will further run during the San Francisco Blockchain Week October 10, the Korea Herland reports. “The popularization of blockchain requires providing a practical blockchain service for mass adoption …

The mayor of Seoul Park Won-soon has introduced a five-year plan for developing the blockchain industry in the city, Korean news agency Yonhap News reports Thursday, October 4. The project entitled “Blockchain City of Seoul” contains a number of measures for promoting and developing blockchain-related initiatives and education in the city from 2018–2022, Park revealed in a speech in the city Zug, Switzerland on Thursday. By 2022, the city plans to set up a public-private fund of 100 billion won ($88.2 million) in order to invest in blockchain startups in Seoul. The fund will acquire 13.6 billion won ($11.9 million) …