Features Crypto News by Thebittimes.Com

1. South Korea’s Crypto News This Week 1.1 South Korea’s Financial Services Commission Plans to Establish Virtual Asset Committee This Month and Hold First Meeting link The South Korean Virtual Assets Committee is set to be established this month, with its first meeting expected to take place shortly thereafter. This committee, formed by the Financial Services Commission (FSC) under the Virtual Asset User Protection Act that came into effect in July, will serve as a policy advisory body. Once established, it will address key issues such as the approval of virtual asset spot ETFs and corporate investments in virtual assets. 1.2 South Korea’s Financial Supervisory Service Investigates Bithumb for Abnormal Cryptocurrency Transactions link Lee Bok-hyun, head of South Korea’s Financial Supervisory Service, announced during a parliamentary committee meeting that regulators are investigating suspicious cryptocurrency trading activity on the Bithumb exchange. The investigation is focusing on t...

The price of the SUI token plummeted after allegations of supply manipulation from regulatory officials in South Korea. Sui's native SUI token has struggled to regain ground after plunging more than 9% amid allegations from South Korean regulators, which have accused the Sui Foundation of manipulating the supply of the token for its own gain.  SUI token gained a little under 1% in the last 24 hours after falling from $0.41 on Oct. 16 to new lows of $0.37 on Oct. 18. Current prices mark a 7% decline in just two days, according to data from CoinGecko. The price of the SUI token has struggled to regain ground amid allegations of supply manipulation. Source: CoinGecko In an Oct. 18 post to X (formerly known as Twitter), the Sui Foundation — the organization behind layer-1 blockchain Sui — slammed the allegations of supply manipulation as “ unfounded and materially false.” “We want to address some inaccuracies that have been reported today,” said the Sui Foundation. "The un...

CertiK’s security chief thinks inexperienced programmers using AI tools such as ChatGPT to write smart contracts is a recipe for disaster. Artificial intelligence tools such as OpenAI’s ChatGPT will create more problems, bugs and attack vectors if used to write smart contracts and build cryptocurrency projects, says an executive from blockchain security firm CertiK. Kang Li, CertiK’s chief security officer, explained to Cointelegraph at Korean Blockchain Week on Sept. 5 that ChatGPT cannot pick up logical code bugs the same way that experienced developers can. Li suggested ChatGPT may create more bugs than identify them, which could be catastrophic for first-time or amateur coders looking to build their own projects. “ChatGPT will enable a bunch of people that have never had all this training to jump in, they can start right now and I start to worry about morphological design problems buried in there.” “You write something and ChatGPT helps you build it but because of all these des...

Source: Creativa Images/Adobe International investigators claim that North Korea stole “hundreds of millions of dollars worth of cryptoassets” to pay for its nuclear weapons programs” – while a row has broken out in South Korean political circles over politicians’ alleged ties to the crypto developer Virgil Griffith. The development comes as Pyongyang claimed that recent missile launches were a “simulation” for nuclear attacks on South Korea. The North is set to conduct its first nuclear weapons test for five years in the coming days, per South Korean-United States intelligence reports. And all this – Seoul and Washington say – is being funded, at least in large part, by stolen crypto . Per Yonhap, the UN Security Council’s North Korea Sanctions Committee has blamed North Korean hacking groups such as Lazarus for both the Ronin Bridge and the Harmony hacks. The committee claimed that the hacks had been dire...