Coinone Delays KRW Won Withdrawals

On February 17, 2018 Coinone reported that NH Bank was delaying the withdrawal of KRW won
21 February 2018   838

Coinone is a cryptocurrency exchange which lets users trade Bitcoin, Ethereum and other coins in an easy, fast and secure way.

On February 17, 2018, Coinone exchange reported that NH Bank has delayed the withdrawal of KRW won. The delay is reportedly connected to the holiday season.

However, Coinone reported that the assets of the users are stored safely, and the users will be notified of the retransmission immediately via SMS after the issue is resolved. The cryptocurrency exchange warned the NH Bank users that they should use the KRW withdrawal function only after the problem is solved.

It is worth noting that previously we have reported about Coinone listing IOTA, Bitcoin Gold and Litecoin.

Korean Exchange to Create AML Hotline

Operators will be checking suspecious transactions in real time by the user reports
28 January 2019   226

The four leading cryptocurrency exchanges of South Korea are joining forces in the fight against money laundering, reports the local news agency The Korea Herald.

Bithumb, Upbit, Korbit and Coinone exchanges organized a hotline through which users can report suspicious transactions that may be related to criminal activities, such as financial pyramids. A representative of one of the participating exchanges, on condition of anonymity, said that operators would be able to verify suspicious transactions in real time and immediately block the accounts associated with them if the information is confirmed.

Earlier this month, it became known that 21 South Korean stock exchange cryptocurrencies were audited by the security of local authorities. Most firms were unable to prevent criminal activity, but the measures used by Bithumb, Coinone and Korbit were satisfied with the regulators.

The cooperative step against money laundering via cryptocurrencies is expected to boost the soundness of the industry and to better protect consumers.
 

Quote, Yonhap

On January 20, it was reported that the leaders of the Korean Komid Crypto Exchange were sentenced to prison terms for falsifying trading volumes.