According to the Financial Supervisory Commission, Beacon Fintech (formerly Blockchain Company) was notified on October 29 of a 10 million won fine for refusing to submit inspection materials and obstructing financial supervision. The company had rejected multiple written requests from the Financial Supervisory Service between July 19-26, 2024, and closed its business premises during a follow-up inspection on August 14, preventing regulators from verifying user assets. The company claimed its virtual asset wallet had been stolen and had no documents to provide. The fine can be reduced to 8 million won if paid by November 20.

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