- DAXA issues a caution notice for Nervos (CKB) after a bridge hack in its ecosystem.
- South Korea records its first corporate crypto trade by World Vision via Upbit.
- New FSC guidelines enable nonprofit crypto transactions starting June 1, 2025.
Nervos Network (CKB) has come under increased regulatory scrutiny in South Korea following a recent security incident. On June 2, 2025, the Digital Asset eXchange Alliance (DAXA), an association of licensed digital asset exchanges in the country, issued a cautionary alert concerning CKB.
The move follows confirmation that assets within the Nervos ecosystem were compromised through a bridge hack. The alert, disclosed by DAXA member exchange Upbit, is part of broader investor protection measures in the event of security risks or market anomalies tied to listed digital assets.
The caution notice allows DAXA member exchanges to take further action if necessary. These include marking the asset as a trading caution item or, in more severe cases, terminating trading support entirely. DAXA stated that such steps are designed to minimize risks to investors and maintain market integrity. As part of its mandate, the alliance continues to review digital assets supported by its members and monitors for any developments that may require swift intervention.
Nervos Bridge Compromise Sparks Regulatory Review
According to the official statement, the breach occurred within a bridge linking Nervos to other blockchain networks. The exact scale of the compromise has not been disclosed, but the incident prompted immediate review procedures by DAXA exchanges. The organization did not confirm whether trading restrictions would follow, but emphasized that user protection is a priority.
This is not the first time that a bridge hack has led to heightened regulatory concern. Blockchain bridges, which allow the transfer of assets between different blockchain platforms, have become critical infrastructure but remain high-risk points of vulnerability. DAXA reiterated its commitment to providing timely information and implementing appropriate countermeasures when digital asset security is compromised.
Institutional Crypto Activity Begins in South Korea
The Nervos alert was discussed just one day after South Korea experienced significant progress in institutional crypto. On June 1, 2025, a domestic firm successfully executed the country’s first deal involving virtual assets under the new rules. World Vision International made an Ethereum transaction totaling 0.55 Ethereum and worth 1.98 million won (around $1,431). The purchase was processed using a corporate account connected to K Bank.
This follows a policy update by the Financial Services Commission (FSC) and related agencies earlier this year. In February 2025, authorities outlined a roadmap that permits qualified non-profit entities to conduct cryptocurrency transactions for cash starting June 1. The regulatory adjustment is intended to create a formal entry point for institutional participation in the digital asset market.
Dunamu, which runs Upbit, said the deal was completed and noted this is a key first step for welcoming legitimate groups into the regulated crypto world. The company declared that it will continue working to be ready for listed corporations and professional investors, as stated by Korean law.
