kor

ChainCatcher reports, according to Rootdata market data, South Korea KOSPI Composite at the open: 5786.13 points, previous close: 5648.79 points, up 2.4%.

On-chain analyst @FabianoSolana posted that suspected North Korean hackers transferred approximately $1.46 million through the Jupiter Lend and Circle cross-chain bridge. According to his analysis, the funds were initially transferred from a Solana wallet address marked by the FBI (starting with AffzFD), then dispersed to about 35 temporary addresses via intermediary wallets before being re-aggregated and deposited into Jupiter Lend. A few minutes later, a similar amount was withdrawn by another new wallet.Subsequently, the funds were exchanged for USDC and transferred out of Solana through the Circle cross-chain bridge, returning to a new address on the Solana network via Noble and dYdX. The related funds were transferred out in approximately 16 transactions totaling about $1.4634 million, and then returned in 19 transactions, with a difference of about $10 between the amounts transferred out and returned. According to the analyst, the related funds have not been frozen.In response, Jupiter's Chief Operating Officer Kash Dhanda stated that based on the current investigation results, the attackers only performed deposit and withdrawal operations through Jupiter Lend, which is different from the previous Aave incident where stolen stablecoins were borrowed and could not freeze the assets. The flow of related funds can still be fully tracked through LP tokens, and the relationship of the funds has not been severed, so it cannot be concluded that the attackers used Jupiter Lend to launder the source of the funds. The Jupiter security team has been monitoring the flow of related funds in real-time. As of the time of publication, Circle has not publicly responded to the reasons for the aforementioned fund transfer and why they have not been frozen.

Binance co-founder He Yi stated that since 2026, the Binance security team has identified and successfully intercepted 57 suspected cyber attack incidents related to North Korea. These attacks reflect the ongoing threat posed by state-sponsored hacker organizations targeting the cryptocurrency industry.The related attack methods include fake job interviews, malware disguised as popular development tools, compromised software packages and browser extensions, fake video conferencing applications, and social engineering attacks aimed at stealing account credentials or deploying remote access malware.He Yi mentioned that Binance has intercepted many of these attacks, but even if one is not successfully intercepted, the consequences can be very serious, "This kind of thing should not happen."

According to a report by South Korea's News1, industry sources say that the Financial Services Commission (FSC) of South Korea held an emergency security inspection meeting on November 2 with major cryptocurrency exchanges and custodians, using the Binance theft incident as an opportunity to discuss increasing the proportion of cold wallet custody at exchanges. The current proposal is to raise this proportion from the 80% stipulated by the existing Virtual Asset User Protection Act to around 99%, which is maintained by some large exchanges.It is reported that the cold wallet custody ratio of Upbit user assets exceeds 99%, Bithumb is about 94%, Coinone is 85%, and exchanges like GOPAX are just above 80%. Industry insiders warn that increasing the ratio will reduce the assets available for immediate withdrawals in hot wallets, which may lead to withdrawal delays and increase the operational burden on small and medium-sized exchanges. In August of this year, Bithumb experienced delays of about 13 hours for withdrawals of some altcoins due to insufficient hot wallet balances. This proposal is still under discussion and has not yet been finalized.

According to the official announcement, Gate will launch KOR Protocol (KOR) spot trading on November 4 at 22:00 (UTC+8), and flash exchange trading will open at 23:00 (UTC+8) on the same day. KOR Protocol is dedicated to building a verification, routing, and settlement system for creative trading in the AI era.At the same time, Gate will start the 385th Launchpool, where users can stake USDT, GT, or KOR from November 4 at 22:00 to December 4 at 22:00 (UTC+8) to share a free airdrop of 36 million KOR. Rewards will be distributed to spot accounts hourly based on the user's staking proportion and early staking will be supported.

According to a report by Reuters, South Korean President Lee Jae-myung mentioned the recent theft of billions of dollars in cryptocurrency assets from Binance during a State Council meeting on November 3, calling for the establishment of a strong intergovernmental cybersecurity coordination agency to oversee security measures in both the public and private sectors.Lee Jae-myung stated that as AI drives increasingly complex hacking techniques, the existing security system, which primarily focuses on post-incident checks and responses, has shown significant limitations, and a proactive prevention mechanism must be established. The National Intelligence Service of South Korea has currently launched emergency security checks on over 2,100 central and local government departments and public institutions. Previously, the FBI in the United States attributed the Binance theft incident to North Korean hackers, but North Korea has denied involvement.

The Information investigated the smuggling chain of high-end storage chips in South Korea and interviewed a dealer in Shenzhen in his 20s. He originally worked at a chip company and transitioned to the chip black market business by leveraging his network. Having been in the industry for only three years, he is now dressed in luxury brands and busy connecting buyers and sellers every day. The United States will begin to restrict exports of advanced high-bandwidth memory (HBM) to China starting at the end of 2024, but the rules have loopholes: HBM exports are restricted when sold separately, but if packaged together with processors, it may be judged based on the processing power of the processor to determine if it crosses the regulatory line.A smuggler in his 40s controls a chip design company that specializes in designing cheap and lower-performance server processors. These chips are rarely purchased but are used as a pretext for procuring high-end HBM from South Korea. Packaging factories place HBM from Samsung and SK Hynix on the same substrate as these processors and declare exports under the category of low-performance processors. After the goods enter mainland China via Hong Kong, workshops reheat and remove the HBM, while the cheap processors are discarded, and any mishandling during disassembly could damage the memory.A stack of HBM3E in the Chinese black market was priced at only a few hundred dollars a year ago, but it has now risen to about 4,000 dollars. An AI chip typically requires 6 to 8 stacks, costing between 24,000 to 32,000 dollars just for the memory. Some of the memory ultimately flows to Huawei customers. Huawei's next-generation Ascend 960DT is scheduled to launch in the first quarter of 2027, but there is a shortage of domestic HBM supply, and Huawei has asked some customers to procure memory on their own. With the increase in imitators, the aforementioned smuggler responsible for procuring chips from South Korea plans to sell his controlling stake in the company next year, fearing that the spread of the route will attract strict scrutiny from regulatory authorities in South Korea and the United States.

ChainCatcher reports, according to Rootdata market data, South Korea KOSPI Composite intraday: 5677.88 points, today's open: 5715.19 points, down 0.7%.

According to the Korean Central News Agency, North Korea mentioned in its denial of involvement in the theft related to Binance that last year the United States linked the hacking incident at the cryptocurrency exchange platform Bybit to North Korea. The Korean Central News Agency stated that the United States misled international public opinion, creating the illusion that cyber fraud occurring around the world was all orchestrated by North Korea, which is a serious political provocation against North Korea. North Korea firmly opposes any attempts to politicize cyber issues and use them as a means of interfering in the internal affairs of other countries, stating that this is the consistent policy position of the Democratic People's Republic of Korea government.The Korean Central News Agency also stated that it is necessary for the international community to reflect again on the fact that the current U.S. government announced the confiscation of illegally stolen cryptocurrency assets, acting as a national strategic reserve as soon as it took office last year. The Korean Central News Agency suggested that if the stolen massive cryptocurrency funds were to be recovered, one might discover clues related to the hacking incident. On February 21, 2025, Bybit experienced a large-scale theft incident, with a total value of approximately $1.5 billion. The U.S. FBI and several on-chain analysis agencies subsequently attributed the incident to the North Korean Lazarus Group (TraderTraitor).

According to a report by the Korean News Agency, members of the Democratic Party in the National Assembly's Finance and Economy Committee have decided to recommend to the party leadership to postpone the taxation of virtual assets originally scheduled to be implemented next year.After a party consultation meeting, the ruling party's secretary Woo Gi-hyung stated that the majority opinion among the committee members leans towards postponing it for about 2 years.

ChainCatcher reports, according to Rootdata market data, South Korea KOSPI Composite at the open: 5637.77 points, previous close: 5859.08 points, down 3.8%.

Kim Yo-jong, the Minister of the Central Committee of the Workers' Party of Korea, stated that the claim linking the Binance theft incident to North Korea is absurd and accused the U.S. of political provocation.

According to a report by South Korea's "Daily Economic News," the Ministry of Economy and Finance has decided to classify perpetual contracts linked to U.S. stocks as overseas stock derivatives, bringing them under the scope of capital gains tax. Starting next year, profits earned from investing in such products through overseas cryptocurrency exchanges will be subject to an 11% tax rate, calculated after deducting a basic exemption of 2.5 million Korean won from annual earnings, which is half of the tax rate for overseas spot stocks (22%).The report states that U.S. stock perpetual contracts are derivatives traded through overseas cryptocurrency exchanges like Binance, tracking U.S. stocks such as Nvidia, Apple, and Tesla. Since the Financial Services Commission of South Korea has not permitted perpetual contracts, South Korean investors can only participate through overseas exchanges. According to industry statistics, the trading volume of such products across 19 global exchanges from January to August this year was approximately $1 trillion. The South Korean government plans to monitor investors' relevant trading records at overseas exchanges and tax them accordingly. The news cites sources from South Korean government departments, but has not yet received official confirmation from the Ministry of Economy and Finance.

According to the South Korean tech media TheElec, Samsung Electronics plans to completely exit the 8-inch wafer foundry business by 2030, shifting its strategic focus to 12-inch advanced processes. Samsung will gradually reduce its 8-inch production lines, with the S7 factory located in the Giheung Industrial Complex scheduled to close first in the second half of 2026, with a monthly production capacity of about 50,000 wafers.After the closure of S7, Samsung's total monthly production capacity for 8-inch wafers will drop from 250,000 wafers to below 200,000 wafers, with the capacity utilization rates of the remaining S6 and S8 factories having already fallen to about 70% at that time. Samsung's foundry business head Han Jeong-wan previously stated that the 8-inch foundry market has become increasingly crowded and price-driven, and the company plans to gradually reduce this business.

The spokesperson for the Chinese Ministry of Foreign Affairs, Mao Ning, hosted a regular press conference. A reporter from Yonhap News asked about the FBI's statement on October 31, which indicated that North Korea was behind the cyber attack on the cryptocurrency exchange Binance, with stolen assets amounting to approximately $6.3 billion.The reporter also mentioned that Trump stated he would discuss this issue with North Korea if the situation is true, and inquired about China's perspective on this incident and Trump's related remarks. Mao Ning responded that she was not aware of the situation.

According to a report by the Korean News Agency, South Korea's Minister of Trade, Industry and Energy, Kim Jong-hwan, stated on November 2 at a public forum of the National Economic Advisory Council held in Seoul that the country will link three major projects: semiconductors, AI data centers, and physical AI, to create a national growth platform. The total investment plan for these three major projects is approximately 160 trillion Korean won, which is about 60% of the annual GDP of South Korea at the project's launch year.The government will promote the semiconductor factory's production timeline by at least two years through measures such as one-stop processing for licensing approvals and the formulation of the "Super Wide Area Special Zone Act." Kim Jong-hwan also proposed the M·E·G·A four major promotion strategies, which are to consolidate national power, encourage participation from all economic entities, create new growth momentum, and expand the effects of the results.

Global investment company Brookfield has appointed KB Kookmin Bank as the lead arranger for the largest syndicated loan in South Korea's history. The loan amounts to 10.7 trillion Korean won (approximately 8 billion USD) and aims to provide funding support for South Korean tech giant NAVER to procure artificial intelligence chips.

According to South Korean media "The Pioneer Economy," the Financial Services Commission of South Korea urgently convened representatives from trading platforms such as Upbit, Bithumb, and Coinone on the morning of November 2 to hold a security inspection meeting. The focus was on checking each platform's preparedness for large-scale hacker attacks and the user asset protection systems.This meeting was scheduled ahead of a security inspection meeting for the entire financial industry on November 5, aimed at understanding the response measures of the South Korean cryptocurrency industry in light of the recent large-scale asset theft incident involving Binance. The meeting will also discuss proposals to increase the proportion of user assets stored in cold wallets.According to South Korea's current "Virtual Asset User Protection Act," trading platforms must store at least 80% of users' virtual assets in cold wallets that are isolated from the internet. Reports indicate that Upbit's cold wallet storage ratio exceeds 99%, Bithumb is around 94%, Coinone is about 85%, while Digital X and Gopax are just above 80%.