BlockBeats news, on December 16, according to Yonhap News Agency, the Korea Digital Asset Protection Foundation has officially begun operations, taking over the digital assets of about 40,000 users from five closed trading platforms, including Apro Korea, Ten and Ten, Hanbitco, Qbit, Pay Protocol, and AG. The foundation plans to complete negotiations on transferring user assets from up to eight defunct companies within this year.
Additionally, the foundation will take over approximately 200 million won in user deposits, which were held in won assets by the Coin Market trading platform 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 applications from the original holders and after a verification process. The foundation will temporarily accept asset inquiries and return requests via email, and will provide services through the foundation's website starting in January next year.