50,000 crypto investors fight back against a new crypto tax in South Korea, and a funeral service company loses $33M on Bitmine. Asia Express
4 min
May 25, 2026
A South Korean funeral firm sits on $32.7 million in ETH-linked ETF losses, Polymarket and Kalshi face Asian restrictions and more.
written by
Yohan Yun , Staff Writer
Korean funeral services company lost $33 million of its customers' money over a bad crypto bet — firm was secretly investing client funds into leveraged crypto ETFs
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Seoul moves to allow foreigners to trade S. Korean ETFs directly
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Financial watchdog's clampdown on single-stock leveraged ETFs marketing sparks industry backlash - The Korea Times
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Korea to open ETF, ETN trading to foreign investors - The Korea Times
South Korea reviews crypto tax plan after petition hits 50,000 signatures
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South Korean funeral company Bumo Sarang lost $33M on a 2x leveraged crypto mining ETF using customer prepaid funds, raising…
It wasn't even the only company siphoning customer funds.
A South Korean funeral company reported a $33 million unrealized loss tied to leveraged ether ETF investments.
A South Korean funeral company invested some of its customer funds in leveraged Ether ETFs and is currently sitting on a $33…
Crypto scammers face the death sentence in Myanmar. Australia's new crypto taxes may push startups and investors to Asian hubs:…
Ripple joins Singapore's BLOOM cross-border trade finance sandbox scheme, Bhutan continues its massive Bitcoin sell off: Asia…
