South Korea c2026-07-09 01:48:13South Korean Investors Withdraw $41 Billion from Crypto Market as Bitcoin Slump Fuels Stock InfluxSouth Korea's cryptocurrency holdings plummeted over 50% in a year, from $82.76B to $41.17B, as daily trading volumes collapsed 70%. Capital shifted heavily to equities and stablecoins, with Bitcoin dropping below $80,000.410
South Korea c2026-07-09 01:42:33South Korean Crypto Investors Pull $41 Billion in One Year as Capital Floods into StocksData from the Bank of Korea reveals that virtual asset holdings by South Korean investors plummeted from $82.76 billion in January 2024 to $41.17 billion by February 2026, a drop of over 50%. Daily trading volume crashed 70%, while stablecoin holdings surged amid a weakening won.410
Bithumb2026-07-04 04:00:14Bithumb’s Accidental Bitcoin Credit and the Platform Crash During a Broader Market SelloffSouth Korean crypto exchange Bithumb reportedly made a serious operational mistake during a promotional “Random Box” event, unintentionally crediting some users with massive amounts of Bitcoin instead of small cash rewards. Winners were supposed to receive between 20,000 and 50,000 Korean won, but staff allegedly entered Bitcoin as the payout unit rather than won. According to screenshots and user accounts shared on social media, some recipients received at least 2,000 BTC each, worth about 196 billion won per person based on Bitcoin prices near 98 million won at the time. Bithumb later acknowledged that it had mistakenly sent excess bitcoin to “some customers,” though it did not disclose the total amount involved or the number of affected accounts. Reports indicate that some recipients sold the wrongly credited coins, pushing Bitcoin on Bithumb to trade more than 10% below broader market levels for a period. The exchange said its internal control system quickly detected the abnormal transaction, restricted activity on the relevant accounts, and activated a domino liquidation prevention system to limit further damage. Bithumb also stressed that the incident was unrelated to hacking or any external security breach, and said customer assets did not suffer losses. The event unfolded amid one of Bitcoin’s sharpest historical selloffs, with BTC dropping to $60,000, more than $1.1 billion in derivatives liquidations, and the asset trading roughly 50% below its October 2025 all-time high above $126,000 before rebounding above $69,000 at the time of writing.490
Upbit2026-07-03 13:19:49Upbit Clarifies OUSD Position, Says It Only Showed Future Interest in OpenStandardUpbit said it only expressed interest in potentially joining the OpenStandard ecosystem at a later stage and did not confirm formal participation in the OUSD initiative. The clarification came as several South Korean firms reportedly distanced themselves from the project. The key issue in this development is not technical implementation, but how participation and partnership status were presented publicly. For market participants, Upbit’s statement helps distinguish between preliminary interest, informal association and confirmed involvement. The episode also highlights a more cautious communication approach among Korean crypto firms when their names appear alongside ecosystem or stablecoin-related initiatives.410
