South Korea regulator states that $40 billion handout highlights the necessity for updated regulations to address cryptocurrency dangers
South Korean Regulator Calls for Stronger Crypto Oversight After Bithumb Incident
SEOUL, Feb 9 (Reuters) – On Monday, the head of South Korea’s financial regulatory authority emphasized the urgent need for enhanced rules to safeguard the cryptocurrency sector. This statement follows an incident where Bithumb, a local exchange, accidentally distributed over $40 billion in bitcoins to its users, highlighting significant security gaps in the industry.
Reported by Jihoon Lee; Edited by Muralikumar Anantharaman
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