North Korean Hackers Turn to Memecoins
North Korean hackers created memecoins to launder cryptocurrency stolen in major breaches, according to blockchain analytics firm Elliptic. Between November 5 and 7, the hackers created at least six tokens on NEAR and used liquidity pools on decentralized exchanges to move $430,000 of stolen funds between wallets. The tokens attracted minimal outside trading and were abandoned shortly after launch.
Elliptic identified the same laundering technique following the $1.5 billion Bybit hack in 2025, when North Korean-linked actors moved at least $24 million through a newly created token on the TRON blockchain.
Tokenized Assets Expand in Asia
Kraken parent Payward's xStocks platform added tokenized versions of more than 200 stocks listed in the United Kingdom and European Union. The expansion brings xStocks' total offering to more than 1,500 tokenized assets, with the company reporting more than $45 billion in cumulative transaction volume and over 550,000 unique holders. Payward plans to add hundreds of Hong Kong-listed equities in the coming weeks.
South Korea Prepares Preventive Measures
South Korea's Financial Services Commission plans to allow crypto exchanges to suspend deposits and withdrawals when hacking is suspected, rather than waiting until a breach is confirmed. The FSC will issue a no-action letter permitting preventive suspensions under certain conditions. The regulator also called for round-the-clock monitoring, higher cold-wallet holdings, and stronger insurance coverage.
South Korean exchange GOPAX suspended all trading, deposits and withdrawals on November 6 after receiving threatening emails claiming a hack was imminent, moving all user assets to cold wallets on the recommendation of financial authorities.
Thailand and Southeast Asia Tighten Rules
Thailand's Securities and Exchange Commission proposed capping daily stablecoin deposits and withdrawals at 5 million baht ($148,000) per customer at regulated crypto operators. The limit would apply separately to deposits and withdrawals at each operator. The regulator said the rules aim to curb money laundering, cybercrime and attempts to bypass cross-border money transfer rules. The draft would also bar stablecoin transfers to and from third-party wallets.
Thailand's SEC will block access to Bitget from December 5 and proposed new knowledge tests for retail investors before allowing them to invest in ICOs.
Hong Kong Updates Regulatory Framework
Hong Kong's Deputy Secretary for Financial Services Chan Ho-lim said the region will introduce a new licensing regime for virtual-asset trading, custody, advisory and management via amendment bills submitted to Legislative Council this year.
Hong Kong police arrested 22 people in a cross-border money laundering investigation involving an over-the-counter crypto network that moved more than HKD$150 million (US$18 million).
Other Regional Developments
Japanese financial services giant Nomura Holdings is reportedly weighing a sale of its cryptocurrency subsidiary Laser Digital as its European operations continue to post losses. Nomura's European businesses posted a pretax loss of 7.4 billion yen ($46.5 million) in the quarter ended September 30, 2026, their fourth consecutive quarterly loss.
In Singapore, Nomura's former head of crypto derivatives trading John Kim joined Chicago-based DV Trading to lead a new discretionary crypto-trading team.
