Japan’s GMO Coin Announces Special SGB Airdrop for XRP Holders

Korea’s prominent crypto exchanges Bithumb and Korbit have recently resumed charging trading fees, local media outlet Edaily reported. However, these changes in fee policies are reinforcing Upbit’s dominant market position while downsizing Bithumb’s and Korbit’s market shares. Meanwhile, the local banks affiliated with crypto exchanges are benefitting from an uptick in fee revenue from the recent bitcoin boom. According to crypto data intelligence platform CoinGecko on Feb. 28, Upbit accounted for 77.4% of the local market share in crypto transactions, followed by Bithumb (20.43%), Coinone (1.73%), Korbit (0.35%) and Gopax (0.09%). Photo by Markus Winkler on UnsplashShifts in market sharesAs of March 2, the market shares of Bithumb and Korbit decreased by 8.59 percentage points and 0.21 percentage points, respectively. Conversely, Upbit’s dominance grew to 86.57%, up by over 9 percentage points. A Korbit official said it’s too early to pass judgment on Korbit’s market performance, as the exchange’s policies on trading fees could change depending on the market sentiment. The person added that CoinGecko tracks only eight types of tokens traded on Korbit and does not cover all the transactions on the exchange.  Bithumb had previously benefited from charging no fees, driving up its market share to as high as over 40% in December. Following the decision to impose a fee of 0.04% on Feb. 6, however, the exchange has been experiencing a drop in transaction volume. Korbit also reinstated trading fees last Thursday, roughly four months after eliminating them on Oct. 10 as a promotional move. However, it's worth mentioning that the newly introduced trading fee is 0.07%, which is lower than the earlier rate of 0.2%. Meanwhile, Gopax currently exempts fees for users who trade BTC, ETH, XRP and USDC.  No local regulations on fees for crypto transactions At the moment, there are no local regulations on fees for crypto transactions, leaving the task of setting such fees to individual trading platforms. It is known that crypto exchanges in other countries, such as the U.S., set their own rates as well.  

SAND Token to be Listed on Japanese Crypto Exchange bitFlyerJapanese crypto exchange bitFlyer has recently announced its plans to list The Sandbox (SAND) on its trading platform, making it the 22nd crypto asset to be available on bitFlyer. Specific details are yet to be announced. This move reflects bitFlyer’s commitment to expanding its offering and providing customers with more investment options and opportunities in the realm of Web3.Photo by Shubham Dhage on UnsplashGlobal presenceFounded in 2014 with a mission to simplify the world through blockchain technology, bitFlyer has taken its crypto asset trading business to the global stage. Its expansion includes sister companies bitFlyer USA and bitFlyer Europe, which have allowed the exchange to extend its reach beyond Japan.Blockchain-powered metaverseThe Sandbox is a metaverse platform that harnesses the power of blockchain technology, empowering users to create and possess digital content using the platform’s tools. Moreover, The Sandbox features virtual land called LAND, which is regularly utilized by companies for hosting events and various other activities. At the heart of this ecosystem lies the SAND token, which enables users to trade user-generated content, participate in governance by voting, and engage in staking.Attention in East AsiaNotably, The Sandbox has been generating significant attention in East Asia. Last month, the metaverse platform initiated an event titled “Hallyu Rising,” collaborating with renowned Korean brand partners, including automaker Renault Korea. As part of this event, Renault Korea launched the Renault Korea Hub within The Sandbox’s environment. This hub gives car enthusiasts a unique chance to design their own vehicles and enjoy exclusive experiences. The event also included a land sale, offering users the chance to acquire LAND adjacent to the Korean brands, thereby encouraging more active user engagement.

The South Korean Ministry of Foreign Affairs (MOFA) announced on Dec. 26 through an official website press release that it has imposed sanctions on 15 North Korean individuals and one institution for their involvement in illegal cyber activities, including cryptocurrency theft, to fund the country's nuclear and missile programs.Photo by Micha Brändli on UnsplashAccording to the MOFA, the sanctioned individuals have been stationed overseas as part of the 313 General Bureau of the North Korean Munitions Industry Department (MID), which is already subject to UN Security Council sanctions. The bureau is allegedly responsible for deploying North Korean tech personnel abroad and using the foreign currency earned to finance the development of nuclear weapons and missiles. The sanctions, which will come into effect at 15:00 UTC on Dec. 29, will prohibit financial and foreign exchange transactions with the designated entities unless approved in advance by South Korean authorities. Violations of these sanctions may result in legal consequences under South Korean law. North Korea behind 61% of 2024’s stolen cryptoThe MOFA cited a recent report by blockchain analysis firm Chainalysis, which showed that North Korean crypto hackers took roughly $1.34 billion in 47 separate incidents in 2024. These thefts account for 61% of the year's total stolen crypto funds and 20% of all incidents. In 2023, they had stolen approximately $660.5 million over 20 incidents. It's believed these funds help finance North Korea's weapons of mass destruction programs. The ministry further stated that North Korean tech personnel are often dispatched to countries such as China, Russia and nations in Southeast Asia and Africa, where they disguise their identities and secure work from global tech companies. Some of these individuals are also suspected of engaging in information theft and cyber attacks. Emphasizing the threat these activities pose to cybersecurity and international peace, South Korea has vowed to continue its efforts to thwart North Korea's illicit cyber activities in cooperation with the international community.