CoinVoice has learned that, according to SBS Biz, the Korean Digital Asset Protection Foundation has officially begun operations, responsible for receiving, safeguarding, and managing user deposits and virtual assets held by defunct virtual asset companies and returning them to users. Customer deposits held by trading companies in some virtual currency markets will also be transferred to the protection foundation.
The protection foundation announced today that it has transferred the assets of approximately 40,000 users from five defunct virtual asset exchanges: Apro Korea, Ten and Ten, Hanbitco, Qbit, Pay Protocol, and AG to the foundation.
Since the establishment of the protection foundation on September 26, the foundation has conducted individual meetings with defunct companies, verified the status of the assets to be transferred, ensured actual possession certification of user assets under custody, and carried out necessary procedures such as asset reviews and test transfers to ensure the safe transfer and management of user assets.
The protection foundation plans to complete negotiations regarding the transfer of user assets with up to eight defunct companies by the end of this year, with five companies being the first to transfer assets. [Original link]