South Korea’s crypto exchange closures lock $13M in investor assets
More than 33,000 crypto investors in South Korea are currently unable to access their assets, which amount to around $13 million, due to the closure of several crypto exchanges in the country, local media outlet The Korea Times reported on Oct. 14.
According to the report, 14 virtual asset exchanges in South Korea have either shut down or temporarily suspended operations in response to the Virtual Asset User Protection Act. As a result, approximately 17.8 billion won, or about $12.8 million, in customers’ digital assets is currently locked on these platforms.
This information comes from recent data released by Representative Kang Min-Kuk of the ruling People Power Party. According to the report, a total of 33,906 South Korean users are…
