Korbit Closes Users Accounts

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Korbit Closed My Account for Christmas

I hadn't logged into this account for a very long time. The Kimchi premium (the higher price for Bitcoin) made it a good business idea to buy Bitcoin outside of Korea, send it to Korbit, and then send the fiat to your bank outside of Korea and then try to buy Bitcoins again. Rinse and repeat.

Korean law makers has made foreigners unable to buy Bitcoins years ago. I was expecting that they would close my account and I understand there is nothing they can really do. They finally got around to it.



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2 comments
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That's not nice. Did they froze any of your assets?

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I never left any funds on that exchange, but that raises a good point. Self custody your funds. That's what crypto is for.

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