Goto Mall accepts Bitcoin

Goto Mall, the largest underground shopping mall in South Korea, has partnered with a local cryptocurrency exchange to let its 620 stores to accept bitcoin
27 November 2017   1105

Goto Mall which is also known as Gangnam Terminal Underground Shopping Center recently announced that it will start accepting bitcoin. The company has entered into a partnership with a local cryptocurrency exchange HTS Coin. The exchange, which opened last month, has created a smart payment system using cryptocurrencies and has recently launched a mobile app.

Customers will be able to pay with bitcoin at the mall’s 620 stores by mid-December.

I think it is very meaningful to be able to settle the bitcoin used by foreigners and young people at Goto Mall.


Chung Gwi Yeon

CEO, Goto Mall

The mall currently has an estimated 500,000 visitors per day, however, the mall’s foot traffic is expected to increase significantly due to its surrounding area being renovated to increase customer base.

The mall had previously tried to apply bitcoin as a payment option. However, store owners often lost their passwords and could not use the coins, the HTS Coin system rule out this possibility. Bitcoin will be offered alongside other payment methods accepted by the mall such as cash, credit card, and Alipay.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   273

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.