The Korea Digital Asset Protection Foundation announced that it has officially started operations and has taken over the digital assets of about 40,000 users of five exchanges that have closed their businesses, including Apro Korea, Ten and Ten, Hanbitco, Qbit, Pay Protocol and AG. The foundation plans to complete negotiations on the transfer of user assets from up to eight closed companies within this year.
In addition, the foundation will take over about 200 million won in user deposits, which come from won assets held by Coin Market Exchange before the revision of the Specific Financial Information Act in 2021. The virtual assets and deposits transferred to the foundation will be returned based on the application of the original holder and after the identity verification process. The foundation will temporarily accept asset inquiries and return applications via email and provide services through the foundation website from January next year. (Yonhap News Agency)