ChainCatcher news, according to IT Chosun, an executive from a subsidiary of South Korean internet giant Kakao is suing Kakao's blockchain division GroundX, claiming approximately 10 billion won (7.6 million USD).This legal action stems from a cryptocurrency hacking incident involving the integrated crypto wallet Klip in the Kakao Talk messaging app. The hacking incident occurred in March 2022, when the executive's Kakao Talk account was compromised. After the account was breached, the stolen cryptocurrency was transferred to overseas exchanges. During the lawsuit, a spokesperson for Kakao stated that the company is currently optimizing the integration of GroundX and lacks sufficient personnel to handle the situation.

ChainCatcher news, the digital art company 3space Art announced the signing of a Memorandum of Understanding (MOU) to acquire the Klip Drops business from Kakao's blockchain company Ground X. Through this acquisition, 3space Art will leverage Klip Drops' technology and infrastructure to promote the development of the digital art industry. This move will also strengthen support for Korean artists and stimulate activity in the digital art market.Klip Drops is a digital art sales and distribution platform established by Ground X in 2018, serving as a curated gallery that introduces artists from various fields such as painting, sculpture, and media art.

ChainCatcher news, communication app giants Kakao and LINE have launched their Layer 1 blockchain Kaia, announcing that its mainnet is now live. According to their announcement, Kaia's processing speed is approximately one second, and the gas fees are "extremely low."

ChainCatcher message, Slow Mist founder Yu Xian posted on the X platform stating that the Monoswap hacking incident involves the use of a forged Kakao video conferencing Trojan software kakaocall[.]kr. If you have downloaded this software, it is recommended to immediately secure your assets and perform a virus scan and reset.

ChainCatcher news, according to Decrypt, the gaming blockchain network Oasys has announced a partnership with Metabora SG, the Web3 gaming division of the South Korean video game company Kakao Games. This collaboration aims to create and provide outstanding blockchain games to more users. It is reported that this partnership is part of Oasys's 2024 "Dragon Update" plan, which focuses on expanding interoperability, developing the ecosystem, and creating high-quality game content.Kakao Games is known for publishing games such as "Black Desert Line" and "PUBG" (Korea).

ChainCatcher news, according to a recent official announcement, Kakao Pay will terminate its cryptocurrency asset services on February 16 at 14:00. It is reported that since December 2022, Kakao Pay has partnered with four Korean companies to provide cryptocurrency asset services.

ChainCatcher news, South Korean prosecutors have begun a comprehensive investigation into former Kakao chairman Kim Beom-soo (phonetic) and Kakao executives for allegations of embezzlement of virtual currency and breach of trust.The prosecution has transferred the case to the Southern District Prosecutors' Office's Joint Investigation Team for Virtual Asset Crimes and conducted the first plaintiff investigation on the 11th. On that day, prosecutors inquired in detail about the main allegations of the plaintiff, the legal background, and the amount of damages. It is reported that the prosecution also requested the plaintiff to submit additional data regarding the cryptocurrency Klay transaction details of Kakao affiliate executives.On the 13th of last month, former Kakao chairman Kim Beom-soo and executives of Kakao affiliates were indicted for embezzlement and breach of trust. The reason is that Kakao created the virtual currency "Klay" through its subsidiary, raising funds by selling it to investors and embezzling the proceeds. If fraudulent transactions as defined by the Capital Markets Act are confirmed in the allegations, investors who invested during this period can seek compensation for losses caused by the criminal acts.

ChainCatcher news, Singapore's metaverse avatar platform GoodGang Labs has completed a $2 million seed funding round, with Kakao Investment participating. The new funds will be used to build the 3D environment kiki town.GoodGang Labs is a company dedicated to providing solutions for metaverse avatars, and it will launch GangHouse for Web3, allowing users to communicate in real-time using their own NFTs as a medium. (source link)

ChainCatcher news, South Korean internet giant Kakao's blockchain platform Klaytn has announced a transition to a permissionless validator structure. The Klaytn Foundation stated that over time, anyone who meets the finalized minimum qualifications will be able to participate as a block validator alongside existing governance committee node operators in the Klaytn ecosystem. (Source link)

ChainCatcher news, according to official information, the interoperability protocol LayerZero and the blockchain game DeFi Kingdoms announced their joint launch on the mainnet of Klaytn, a public chain under South Korean internet giant Kakao.Previously, DeFi Kingdoms stated in August that it would completely detach from Harmony and launch its game segment named Serendale on the Klaytn blockchain, which focuses on the metaverse. (source link)

ChainCatcher news, KakaoBank's Chief Strategy Officer (CSO) Kim Seok recently stated: "KakaoBank is in talks to provide verified real-name deposit and withdrawal account services to Coinone customers in November, in order to provide stability and convenience for virtual asset trading. Coinone users will be able to access through KakaoBank accounts.KakaoBank is an online bank in South Korea with nearly 20 million users, and Coinone is one of the top five cryptocurrency exchanges in South Korea. The two companies announced their partnership in August. (Forkast)

Chain Catcher news, the Web3 community gaming platform Iskra announced the completion of a $40 million financing round, with participation from South Korean internet giant Kakao's incubator Krust Universe, WeMade, Netmarble, LINE Studio, and others. It is reported that Iskra aims to coordinate community interests by integrating sustainable token economic solutions for game developers.Chain Catcher previously reported that Iskra completed a $34 million financing round in April this year, led by Krust Universe, with participation from WeMade, MetaBora, Neowiz, NHN Bigfoot, Fast Ventures, Liberty Investment, and Kakao Ventures. (Source link)