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To combat money laundering schemes and recover funds associated with criminal activities, South Korea’s Ministry of Justice announced plans to implement a crypto-tracking system, Cointelegraph noted.
Cointelegraph further stated that according to local news outlet khgames, the “Virtual Currency Tracking System” will be used to track transaction history, extract transaction data and verify the source of funds before and after payout.
The South Korean Supreme Court has ruled that cryptocurrency exchange Bithumb must compensate investors for a 1.5-hour service outage on November 12, 2017 and ordered Bithumb to do so.
In response to the sophistication of crime, we will improve the forensic infrastructure (infrastructure). We will build a criminal justice system that meets international standards (global standards).
The Supreme Court’s final ruling required the 132 investors involved to be awarded damages ranging from as low as $6 to around $6,400, Cointelegraph added.
(With information from Cointelegraph)
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