According to ChainCatcher news, as reported by Chosun Biz, sources indicate that NXC, the holding company of South Korean gaming giant Nexon and the largest shareholder of one of South Korea's top five cryptocurrency exchanges, Korbit, is seeking to sell its 48% stake. NXC acquired a 62% stake in Korbit for 93 billion won in 2017, and its share was diluted after SK Square, an investment company under the SK Group, joined as the second-largest shareholder in 2021. An official from NXC stated, "We cannot make a formal statement at this stage."The report indicates that Korbit's performance has gradually deteriorated over the six years since being acquired by NXC. A deficit is also expected in 2023. NXC stated at the beginning of its investment that it would not directly participate in Korbit's management, and industry insiders analyze that even if Korbit falls into difficulties, NXC has not provided significant support to the exchange.

ChainCatcher news, according to a statement released by the Financial Services Commission (FSC) of South Korea, the financial intelligence unit of South Korea held a meeting with virtual asset service providers (VASP) to strengthen regulatory compliance. The top five cryptocurrency exchanges in South Korea (including Upbit, Bithumb, Coinone, Korbit, and Gopax) have established compliance systems to monitor illegal activities.The meeting revealed that Upbit has created an anomaly trading detection system using artificial intelligence (AI). Bithumb has developed a feature that automatically terminates the trading application when a remote control application is installed and money laundering transactions are detected. Coinone has strengthened the management and monitoring of "risk wallet addresses" related to financial incidents. Korbit has introduced a real-time management system and a secondary review system for each stage of suspicious transaction reports (STR). Gopax has set up a hotline that can respond immediately when it receives account freeze requests related to crimes such as voice phishing.Through a collective commitment, the participants pledged to strengthen joint dialogue around enhancing compliance capabilities. They plan to hold meetings every 2-3 months in the future to maintain this commitment.

ChainCatcher news, according to Yonhap News Agency, South Korean gaming giant WeMade has withdrawn all lawsuits against the digital asset trading platform under the joint consulting organization (DAXA) for violating the delisting regulations of the virtual currency WEMIX. According to legal sources cited by Yonhap, WeMade submitted a notice of withdrawal to the Seoul Central District Court against Upbit, Bithumb Korea, Coinone, and Korbit.In December 2022, the Seoul Central District Court rejected the temporary injunction application filed by WeMade's subsidiary Wemix PTE regarding the delisting of the WEMIX Token by crypto trading platforms such as Upbit. However, WeMade expressed dissatisfaction with the court's ruling and subsequently appealed, until today when they withdrew the lawsuit. (Source link)

Chain Catcher news, the DAXA alliance formed by South Korea's five major cryptocurrency exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax) plans to support the Ethereum hard fork. DAXA has decided to collaborate on the listing and delisting standards for the hard fork tokens. As of now, the five exchanges have not released any announcements. (Source link)