More than 33,000 crypto investors in South Korea lost access to assets worth approximately 13 million dollars due to the closure of 14 cryptocurrency exchanges, reports The Korea Times. The closures are related to a new law on the protection of virtual asset users. A total of 17.8 billion won (12.8 million dollars) have been blocked.
The largest losses are associated with the Cashierest exchange, which closed in 2023, where 9.4 million dollars were frozen. Three other exchanges, including ProBit and Huobi, have suspended operations, blocking additional assets.