CandleFocus South Korean Court Orders Defunct GDAC to Return $7.3M in WEMIX to Wemade CEO
2024-09-26
Author: Content Editor
A South Korean court has ruled in favor of Wemade CEO Park Kwan-ho, ordering GDAC crypto exchange to return 7.8 million WEMIX tokens, worth $7.31 million. This comes after GDAC failed to comply with a previous court ruling in July. The court rejected GDAC's challenge and ordered the platform to return the tokens within 30 days, or face a daily penalty of $3 million. The court also dismissed GDAC's allegations of market manipulation and money laundering against Park. The ruling highlights the challenges faced by investors and exchanges in the unregulated crypto space. It also increases pressure on defunct exchanges to comply with legal and regulatory standards.
Related News
US sanctions Russian crypto platforms for money laundering ties US Foreign Affairs Committee passes resolution demanding Binance exec Tigran Gambaryan's release in Nigeria Wrapped Bitcoin supplied on Aave hits record high despite backing fears Stacks (STX) makes 30% gain as mainnet upgrade and stablecoin launch approach Onyx Faces Security Breach With Hackers Draining $3M, Here's All Bitcoin rallied above $65K, but will BTC price hold this level? Crypto Forecast: Why the Market is Expected to Skyrocket Crypto Analyst Predicts What Will Drive The Ethereum Price Back Above $3,000 Again Binance Launches Pre-Market Trading System Allowing Users to Trade Altcoins Before Spot Listing Decentralized Exchanges Surge as Trading Volume Hits $31.67 Billion Crypto PACs Dominate Ohio Senate Race, Spending $40M on Sherrod Brown's Foe Best-Selling Personal Finance Author Warns of ‘One of the Greatest Financial Crisis in History’ Sky-High Potential: New Cryptos to Buy Now for Explosive 100x Gains Bitcoin’s climb to $70k could trigger $1.6 billion in short liquidations Ethereum Whales Offload $53M in ETH as Price Surges Past $2,600 Orbler Partners with Meta Lion to Accelerate Web3 Growth TruFlation offers $500K bounty to recover funds stolen in hack DeFi Altcoin and Ethereum (ETH) Layer-2 Blockchain Both on the Rise After Coinbase Listing Singapore Court Grants WazirX 4-Month Moratorium on Strict Conditions: Report Tether Aids Dutch Authorities, U.S. Secret Service in Takedown of Major Crypto Money Laundering Operations Shiba Inu (SHIB) Price Surges 12% Amid Cautious Whale Activity Analysts Give Date for Bitcoin’s New All-Time High Elon Musk Posts Scoffing Remarks On Sam Altman Amid OpenAI For-Profit Saga Swan Bitcoin Claims Former Employees, Tether Conspired to Steal Its Mining Business Arthur Hayes Predicts Bitcoin Will Benefit From 'Volatility Supercycle' Binance Expands Support For Hamster Kombat As Trading Goes Live Gary Gensler Insists There Are Crypto Regulations, Says Bitcoin Is Not A Security Bitcoin daily close above $65,000 is ‘pivotal’ to start an upward movement – Kraken After the Surge in Bitcoin, Analysts Reveal What They Expect Next New Ethereum addresses have dropped by 43% in the last 3 months Gensler suggests BNY Mellon’s crypto custody model could expand beyond Bitcoin and Ether ETFs Gensler’s exchange rule proposal sparks concerns for DeFi and crypto platforms Tornado Cash Dev Roman Storm’s Criminal Case Will Proceed to Trial, NY Judge Orders Hamster Kombat Price Outlook Should You HODL or Sell HMSTR? Analytics Firm Reveals Critical Level Bitcoin Needs to Hold For Bullish Sentiment to Continue Avalanche (AVAX) Price Eyes 79% Pump With Key Resistance in Sight Grayscale Names Top 20 Cryptocurrencies with High Potential Meme Coins Surge on the Back of Breakout Baby Hippo Token Crypto Will Continue To Rally Hard Amid Fed Rate Cuts, Says Coin Bureau’s Guy Turner – But There’s a Catch Binance Coin traders pull back ahead of CZ’s release: what’s next for BNB price? The key misunderstanding with China's purported BTC hashrate dominance Bitcoin analysts say BTC is in a ‘good position’ above the 200-MA and $65K Woof Gone Wild: WIF 30% Rally Could Kickstart Extended Bull Run Watchdog: Visa–Mastercard ‘duopoly’ spends millions blocking competition il Capo Had Said, “I Have Been Accumulating These Three Altcoins” In The Last Weeks, He Announced The Last Token Circle exec expects ‘huge shift’ in EU market post-MiCA AVAX price rallies after Avalanche development incentive and mainnet upgrade announcement 5 Real World Assets (RWA) Altcoins to Trade in October Examiner finds Sullivan & Cromwell didn't ignore 'red flags' that would've tipped them off to FTX's misconduct GraFun Launchpad Rockets with 3.7M Registrations, $19M in User Wallets, Backed by Crypto Giants Helium Mobile partners with University of Southern California’s Trojans Bitcoin Exceeds $65,000: Analyst Assesses the Latest Situation and the “China Effect” QED, Nexus aim to bring smart contracts to Dogecoin Defi.money integrates LayerZero as interoperability solution Nexo Joins Colombia Fintech Association as Strategic Member Crypto.com launches AI tool for blockchain interactions Spot ETFs Contribute to Bitcoin Maturation Process, Reducing Volatility Starknet (STRK) Price Jumps 10% After Staking Announcement: What’s Next Shiba Inu ($SHIB) Poised for New All-Time Highs: A Trend Analysis Core blockchain surpasses $400 million TVL, leading the charge in Bitcoin Layer 2 scaling solutions 'Hamster Kombat' Players Gripe as Telegram Game Airdrop Delivers 'Dust' $1,000 Per XRP? DEX Offer Puzzles Community CryptoPunks Keep Hold on Luxury World as Other Degen Brands Fade dYdX Chain Partners with Phantom Wallet to Offer a Simplified Trading Experience Debates flare up over blockchain TPS in testing environments Memecoins are back? Dogwifhat price rallies 46% in September Bitcoin rallies amid positive U.S. jobs data and reports of more China stimulus measures Here’s why Shiba Inu price is soaring Catizen (CATI) perpetual futures launches on Coinbase International WIF Bulls Push Hard Toward $2.1 Resistance Amid Market Optimism BORA Integrates Kaia CL Protocol to Strengthen Liquidity and Expand Ecosystem Revolut explores stablecoin launch while Robinhood rules out immediate plans Is Bitcoin protected by the First Amendment as Michael Saylor says? Bitcoin traders brace for US macro data, Fed as BTC price bounces 2% Tonkeeper non-custodial wallet to support TON transaction fee payments with HMSTR SOL, OM, and FET: Crypto Analyst Highlights Key Levels to Watch Bitcoin mine that could have 'flattened out' energy bills in Minnesota town halts plans amid potential noise complaints Country-wide Bitcoin adoption a mixed bag for national economies DOGE News: Elon Musk's 'The Dogefather' Post Sparks DOGE Price Rally Ledger hardware wallet expands crypto buying options with Uphold’s Topper Bitcoin price 2-month highs on ‘soft landing’ may precede sub-$60K dip Bitcoin’s correlation with global liquidity outshines gold and stocks Crypto hacks surge to $2.1B in 2024, CeFi hit hardest — Cyvers Ethereum futures traders hint at renewed optimism as funding rates turn positive: CryptoQuant Waiting for altcoin season: Why recent rallies may just be strong bounces Shiba Inu Deployers Could Have Made $88M+ if SHIB Was on This Network Bitcoin (BTC) Nears Major Profitability Milestone: Details Arthur Hayes says as long as fiat exists, your crypto investments are safe The Future of Tech Infrastructure Lies in DePIN Proof of Reserves: Show Me the Money, Or It Didn’t Happen Justin Sun Launches Tron-Based NFT Pump Platform Chainlink eyes 25% surge after whale-driven breakout Bitcoin Hits $65K for First Time Since Early August, Renewing Investor Interest in Spot ETFs Hinkal Launches Shared Privacy for Scalable Cross-Blockchain Transactions South Korea levies $860K fine on Worldcoin for compliance failures related to data collection Michael Saylor Issues 'Bitcoin to Moon' Statement as Price Tops $65,000 Injective Price Gains Momentum: Is a 70% Surge on the Horizon? DeFi Markets Brace for Volatility as $568 Million in Tokens Prepare to Unlock Bitcoin price retests $65k; thanks to whales and sharks $8 Billion in Bitcoin Options Expire Tomorrow—Here’s What It Means Solana Joins Chainflip, Enhances Cross-Chain Swaps Velar and Hermetica Collaborate to Launch High-Yield Stableswap Pool on Stacks Virtual Asset Trading Drives Growth in Hong Kong’s Markets Leverage Shares debuts 3x leveraged MicroStrategy ETPs in Europe Toncoin (TON) Sends Urgent Alert to Crypto Community, What to Know DeFi in Crisis: Restaking Protocols Are Devouring Liquidity Bitcoin Price Analysis: Is BTC Heading Toward $70K or $60K Next? Premier League crypto sponsor Sorare accused of unlicensed gambling in UK Shockingly Big Fee Paid for Single Ethereum Transaction: Details Distributed ledger technology to play a central role in Morocco’s 2030 digital strategy MOTHER spikes 37% as Pyth Network adds price feed support A small group of tech giants are holding AI’s future hostage Mantra forms bearish divergence ahead of mainnet launch Onyx Protocol Loses $3.8 Million in Preventable Hack Crypto expert says XRP looks like a ‘time bomb waiting to explode’ Bitcoin (BTC) Might Be Manipulated? Order Flow Analysis BNB Eyes $522 as Traders Stay Cautious Ahead of Changpeng Zhao’s Release Ripple Cofounder's Alleged 30 Million XRP Coinbase Move Worries XRP Community When Will the New ATH Come in Bitcoin? Famous Analyst Said "Very Close", Shared His Expectations! South Korean Court Orders Defunct GDAC to Return $7.3M in WEMIX to Wemade CEO Pepe nears crucial price as CEX outflows rise: Nansen It’s been 1,051 days since the last altcoin season Bitdeer completes testing of SEAL02 mining chip PEPE Might Clear One Zero When Price Hits 8-Week High Hamster Kombat in a harsh reversal; market cap drops below Notcoin MiCA Crypto Alliance: Regulatory Consensus or Diverging Approaches to Digital Assets? The Next Chapter for Polygon PoS: Upgrading to ZK-Powered Layer 2 Bitcoin Price May Drop Below $60,000 Due to Heavy Profit Taking SEC Chairman Gary Gensler Talks About Bitcoin (BTC) and Cryptocurrencies! Comments on Mark Cuban's Request! China’s $142 Billion Fiscal Aid May Trigger Bitcoin Bull Run Crypto investors burnt again by Israeli entrepreneur Moshe Hogeg Hut 8 completes pivot to AI market with GPU-as-a-Service launch Early Cardano (ADA) Investors May Print 500% Gains if History Repeats Itself DeFi leads activities on L2 chains, but questions remain Bitcoin Swap Service Boltz Launches BTCPay Server Plugin For Lightning Payments Ethereum’s Path to $2,700 Uncertain as Unrealized Losses Jump 14% SEI Network Explodes: TVL Hits $200M, 8-10x Surge Predicted Shiba Inu Eyes 100% Breakout Gains as Open Interest Nears $53M Check Point Discovers Mobile Crypto Drainer App on Google Play Store: $70K Stolen From 10,000 Users SHIB price rockets 14% in a day amid stablecoin hype Synesis Foundation and AirMoney DEGN Collaborate to Boost AI and DePIN Crypto Hardware Shiba Inu (SHIB) Ecosystem Stunned as 24-Hour Shibarium Fees Jump Over 2,190% Bitcoin Jumps Over $64K Ahead of Powell Speech; IBIT Options Could Provide Longer-Term Boost Here's Cardano Price if it Captures 113% Ethereum's Market Cap Shiba Inu Holders Can See Significant Upside as Experts See W Pattern Bitcoin Price Faces Consolidation While Altcoins See Resurgence $125,000 Stolen From Crypto Exchange in Hong Kong, Two Men Caught Ethereum Transactions See Over 20,000 ETH Moved to Exchanges in 3 Days Singaporean SBI DM Plans to List Digital Assets on German Firm 21X The many weird AI depictions of Michael Saylor Ethereum (ETH) $20,000 Surge Still Possible: Head of Macro Research Julien Bittel NEAR Price Surges 65% as Sharding Drives Adoption Ripple President Opens Up About SEC Lawsuit, RLUSD Launch, XRP Ledger Plans MARA Stock Eyes 3x Rally As Marathon Digital Plans Big AI Push ? Hamster Kombat’s HMSTR Token Crashes 20% After Listing Bybit Unveils HAMSTER Virtual Card to Elevate Crypto Transactions and Celebrate $HMSTR Launch Arthur Hayes's Family Office Funds Another Bitcoin Core Developer Wall Street Titan Guggenheim Tokenizes $20M of Commercial Paper on Ethereum SunPump Partners with TokenPocket to Enhance TRON Ecosystem Shiba Inu: Shibarium TVL Surges to $3.64M One Week After Bonecrusher Launch Elon Musk slams Mark Cuban for Demanding SEC Chair Post BABYDOGE surges 120% in 10 days, further gains or correction ahead? Bitcoin (BTC) Statement from Kamala Harris Supporter Congresswoman! "You Can't Be Against It!" Is Dogecoin (DOGE) Poised for a Breakout as Uptober Nears? Here’s an End-of-2025 Price Target for Bitcoin (BTC), According to Trader That Called Bear Market Bottom Altcoin season fever infects analysts calling for bullish movement as Bitcoin hits $64k Shiba Inu (SHIB) Skyrockets 203% in Volume as Price Makes Massive Breakout $CATS Announces Airdrops, Community Thrilled! Chainlink Surges 10% as MVRV Ratio Hits 9.2%: Is a Breakout to $15 on the Horizon? Expert Sees Upcoming Aggressive Push in Shiba Inu Price Ripple CTO Drops Cryptic RLUSD Stablecoin Hint Pepe Coin Price Eyes 45% Gains as ETH Burns Surge 163% Cryptocurrency Prices on September 26: BTC Backtracks To $63K, But WLD Soars 11% Worldcoin (WLD) Price Breaks $2 Barrier Ahead of $58 Million Token Unlock SolvBTC Now Live on Avalanche, Introducing Yield Solutions for Bitcoin Dogecoin's (DOGE) Path to $0.150 Is Clear If This 36 Billion Resistance Is Broken Will XRP Price Hit $1M if 1 XRP Drop Equals 1 RLUSD? Silver’s Decade-High Breakout: Will Bitcoin Follow with a $100K Move? Justin Sun Moves Millions in TUSD, Sparking Sell-Off Speculation ? Ethena plans to launch new stablecoin backed by BlackRock's tokenized BUIDL fund The necessity to avoid a Bitcoin halving hangover | Opinion Will Toncoin Price Hit $10 After the Hamster Kombat Airdrop? Terra CEO Chris Amani Confirms Plan If Talks Fail Cardano Processes 8 Transactions Invoiced to 1,600 Recipients for Just 5.16 ADA Are Fed Rate Cuts and Bitcoin Halving Post-Effect Moving the Crypto Markets? Crypto trader turns $95 into $96.9K in 12 hours South Korea Imposed a Large Fine on This Altcoin! The Price Reacted Reversely and Started to Rise! 4 Million Daily Transactions: SUI’s Ecosystem Demand Reaches New Highs Why Shiba Inu Coin and Dogecoin Prices Are Pumping Today? Injective (INJ) Rallies 7.49% as Breakout Rally Targets $33 Dubai regulator tightens rules on crypto marketing Genesis creditor already sold 12,100 ETH amid major liquidation SHIB, PEPE Post Major Daily Gains, BTC Price Recovers From Sub-$63K Dip (Market Watch) Pro-Crypto Billionaire Mark Cuban Eyes SEC Chair Position After Calling for Gensler Sack SEAM spikes 64% as Base plans to scale up gas limits Bitcoin Whale Accumulates Over $150 Million in BTC, Signaling Bullish Sentiment Chainlink Sees Massive Whale Accumulation: 8.5M LINK Added in Six Weeks as On-Chain Activity Soars Musk and Trump used to shill crypto scam after Indian influencer’s YouTube hack Shiba Inu (SHIB) Burn Rate Shoots up 647% as Price Rallies 13% Solana’s (SOL) Path to $160 in Danger After Massive Whale Sell-Off Web3 music streaming brings direct stablecoin payouts to musicians $1.28 Billion Market Crash: Who Sold Bitcoin (BTC)? Bitcoin $73.7K breakout ‘imminent,' selloff intensity 'might vary' — Analyst Exclusive: Inside a Swiss nuclear bunker’s secret Bitcoin vault Shiba Inu (SHIB) Finally Bullish, XRP Getting Closer to Edge, Solana (SOL) Fails at $150 Once Again Crypto Analyst Says Large-Cap Ethereum Rival at Risk of Massive Sell-Off – Here’s Why Toncoin’s Stability May Be Short-Lived as Price Correction Looms ? Shiba Inu to Launch a Stablecoin Soon! South Korea Warns Crypto Firms as $4 Million Threshold Risks Life Sentence Whale unstaked $30m in SOL; will Solana crash again? Bitcoin Exchange OKX Postpones Listing of Numerous USDC Trading Pairs That It Announced Would List Today! Crypto Inspired by 'Moo Deng' Zooms to $100M as Hippo Meme Takes Over Internet Early BABYDOGE Investor Transfers $2.92M Worth of BABYDOGE to Binance, Hinting at Potential Sale Analyst Says XRP Going to $100, Citing Statements from Michael Saylor Can Worldcoin Price Reach $4 As On-Chain Metrics Turn Bullish? Top 10 Altcoins With The Most Growth In The Last One Month Announced – Here’s The List To Check Out Dogecoin (DOGE) Breaks Key Support, But Bulls Aren’t Backing Down Japan Eases Crypto Regulations for Gaming Businesses Cardano Flexes Its Muscles: 8 Transactions, 1600 Recipients at Just $2.38 Fees Notcoin Struggles at $0.008462; Will NOT Knock Off a Zero? Ethereum Burn Rate Surges 163%: A Sign of Price Gains Ahead? Key Indicators Challenge Fed's 'Normalization' Rate Cut That Torched Bitcoin Rally Binance continues to serve Russian users despite 2023 exit LTC Price Analysis: Is a Return to $76.78 on the Horizon for Litecoin? Worldcoin Price Surges Despite $831K Fine in South Korea Worldpay to start verifying blockchain transactions Hong Kong’s Crypto Securities Revenue Was $77M Yuan in Q1 200,000 Solana Dump Coming as Whale Behind 24% Dip Moves to Liquidate Another $30M in SOL New Report Reveals Majority of Airdrop Tokens Crash Within 15 Days of Listing Bitcoin in Final Few Days Before Transitioning Into Parabolic Phase, Says Trader – Here’s His Outlook Ethereum Futures Signal Bullish Shift as Traders Ramp Up Buying Activity, Funding Rates Soar eToro Acquires Australian Investing App Spaceship for Up to $55 Million The Biggest Crypto Predictions for October 2024 VET Pumps Almost 12% Over Last 7 Days, VeChain’s Strong Ecosystem Features Points at Larger Pump Ahead Brandt Identifies Bitcoin Lower Highs, Shows Level BTC Must Breach to Begin Uptrend XRP Nike Swoosh Pattern Signals Surge to $13, Says Leading Chartist South Korean Investors Gave Up on Bitcoin and Started Buying These Altcoins! Taurus, Aktionariat partner to enable trading of tokenized shares 42% of Metaverse US fans buy products endorsed by influencers Flamingo launches f- and p-asset migration, wave three of LP changes, new collateral assets Bitcoin Price Sees Dip: Is the Uptrend Still Safe? Ethereum Price Set to Rise Again, But Will This Level Hold? Ripple Vs SEC Appeal Deadline: ‘XRP Unleashed’ Producer Teases Major Film Announcement After October 7 Utah Judge Rules SEC’s Case Against Alleged Crypto Mining Scam Green United Can Proceed to Trial NYDFS 'More Eager Than Anyone' for Federal Legislation, Chief Says SUI Price Gains Momentum: Eyeing Key Resistance Levels Amid TVL Growth US Bitcoin ETFs secure 5-day inflow streak as BlackRock rakes in $184 million Singapore Court Grants WazirX Four-Month Conditional Moratorium: Source Bitcoin Network Eases Up: Difficulty Falls 4.6% at Block 862,848 Chiliz CEO Charts Course for Korean Market Domination at Korea Blockchain Week Upbit Listings Spark Price Surges for MINA, CTC, and Other Tokens Coinbase Unveils Vital Announcements On ZK & WELL, What's Next For Price? FTC Targets AI Companies for Exaggerating Their Tech in Latest Consumer Protection Sweep Biden admin deliberately killed off Silvergate to ‘decapitate’ crypto — Nic Carter South Korea fines Worldcoin and Tools For Humanity for data privacy violations Top Analyst Says Ethereum Rival Coming in Hot, Sees Altcoin Mirroring Sui’s Explosive Rally Large SAND Transfer Raises Questions on Market Impact Terror victims claim DOJ withholding their cut of $4.3B Binance penalty Cryptocurrency and Stocks Show High Correlation Levels as Macroeconomics Start Driving Markets PayPal's PYUSD stablecoin shrinks 30% in a month as DeFi yields on Solana plummet Analysts remain divided on Q4 outlook despite Bitcoin rally following rate cuts Guatemala Adopts Worldcoin’s Cutting-Edge Technology to Protect Users from Online Fraud and Bots China's Money Printer Goes Brrr—Will It Give Bitcoin a Boost? Cardano’s ADA Flashes ‘Strongest Buy Signal’ in a Year Signaling Potential 1,200% Surge Bitcoin’s Next Bull Market Could Peak by Late 2025, Says Crypto Analyst XRP Whales Shift 23.5 Million Tokens to Exchanges, Price Crash Imminent? TON Blockchain Faces Its Biggest Test Yet with Hamster Kombat’s 131M Token Airdrop Is Coinbase Issuing 'Paper Bitcoin' to BlackRock and Other ETFs? Analytics Firm Detects Sharp Decline in One of the Metrics Driving Bitcoin Price – Here’s What It Means Oasys Joins Forces with Arbitrum to Adopt Orbit Stack Alby Releases Alby Go, A Mobile App For Self-Custodial Bitcoin Lightning Payments Terror victims claim DOJ withholding their cut of $4.3B Binance penalty Coinbase-backed Truflation confirms hack, estimated around $5M 3 reasons why Bitcoin (BTC) struggles to hold $64.5K Ethereum bulls and bears fight to win this week’s $2.8B ETH options expiry NYC’s pro-crypto mayor Eric Adams indicted on corruption charges Financial institutions are experimenting with Bitcoin-backed lending: Ledn Kamala Harris wants the US to be ‘dominant’ in blockchain Price analysis 9/25: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB Terraform Labs may close products, services in bankruptcy wind-down Bitcoin price stuck in ‘extended consolidation phase’ due to drop in capital inflows — Report