North Korean and Iran-linked hackers drove the majority of a 420% surge in malware stored on public blockchains this year, according to a new Chainalysis report, while across the rest of Asia, Hong Kong-founded exchange CoinEx said it will shut down after nine years, India launched a tokenized corporate bond pilot, and regulators from Seoul to Singapore advanced new crypto measures.

North Korea, Iran-linked hackers fuel 420% surge in onchain malware

North Korean and Iran-linked hackers were responsible for the majority of this year's 420% increase in malware found on public blockchains, according to a Chainalysis report. State-linked actors accounted for roughly two-thirds of the new activity, in which attackers store malware instructions or infrastructure information directly on public blockchains.

Chainalysis also linked UNC5342, a North Korea-associated, to previously unattributed activity spanning Tron, Aptos and BNB Smart Chain.

According to the firm, using public blockchains makes malware campaigns more durable because the stored information remains accessible even after domains, servers or code repositories are taken down. In 2025, North Korean hackers employed a similar technique, known as EtherHiding, to place crypto-stealing code in smart contracts.

North Korea using foreign remote workers to infiltrate US companies

North Korea (DPRK) is now using remote workers from third countries, including Iran and Lebanon, to pass job interviews, after which the positions are handed over to North Korean operatives, NBC reported. The goal is to infiltrate US companies and obtain money to fund its weapons programs.

South Korea

18 Polymarket users referred to prosecutors in gambling probe

South Korean police have referred 18 Polymarket users to prosecutors in an illegal gambling investigation that has identified 26 users in total by analyzing publicly available blockchain data, according to reports. The users collectively wagered about 17.6 billion won ($12.7 million) on Polymarket, which does not collect users' real names or verify identities.

Authorities said Polymarket transactions constitute illegal gambling under South Korea's Criminal Act because users stake assets on outcomes that cannot be predicted with certainty.

Hong Kong

Metaplanet cuts Series 10 stock pool by 41%, plans Hong Kong subsidiary

One week after controversy over a plan to hand over as much as 20% of its fully diluted shares to executives, Metaplanet has slashed its Series 10 stock pool, according to a regulatory filing.

The company will reduce the number of potential shares underlying the rights from 319.464 million to 188.19 million and reset the conversion ratio to the level in place before its September 2025 international share offering. According to Metaplanet, the change will extinguish more than $220 million in warrant value and increase the company's Bitcoin per fully diluted share by about 8.8%.

CLARITY Act failure opens 'critical strategic window' for Hong Kong

Crypto industry insiders are urging Hong Kong policymakers to seize the opportunity opened by the failure of the CLARITY Act vote in the United States, the South China Morning Post reported. The CLARITY Act is proposed US legislation intended to establish a comprehensive regulatory framework for digital assets.

The delay has given Hong Kong a “critical strategic window,” said Allen Ding, director of Bitfire Research. Shawn Yan, founder of Cregis Technology, said the city should focus on “building infrastructure that can operate across regulatory boundaries, rather than waiting for any single jurisdiction to define the market for everyone.”

CoinEx to cease operations after nine years

The Hong Kong-founded exchange said falling trading volumes and liquidity during the bear market, along with rising regulatory and compliance costs, drove its decision to shutter the business. Withdrawals remain open until Dec. 22.

India

Tokenized bond pilot launches with $107 million issued

India's securities regulator and central bank have launched a tokenized corporate bond pilot, with three companies issuing a combined 10.25 billion rupees (about $107 million) through the new market infrastructure, according to a press release from the Securities and Exchange Board of India (SEBI).

SEBI said Demat 2.0 allows corporate bonds to be issued and held as digital tokens on distributed ledgers owned by the country's statutory depositories. The system connects to the Reserve Bank of India's (RBI) wholesale central bank digital currency (CBDC) through its Unified Market Interface. The pilot's name references India's existing demat system, in which securities are held in electronic form rather than as physical certificates.

Parliamentary committee wraps year-long crypto review

India's Parliamentary Standing Committee on Finance has completed its hearings on cryptocurrency policy. The government will respond next week before the committee prepares and submits its report.

Enforcement Directorate to step up crypto investigations

India's Enforcement Directorate aims to finalize economic crime investigations within 18 months and is strengthening its capacity to track crimes involving cryptocurrencies.

Vietnam

Bitcoin Suisse to shift up to half of Swiss jobs abroad

Bitcoin Suisse plans to shift up to half of its Swiss jobs to Bratislava and Vietnam, according to an official announcement. Founded in Zug in 2013, the company provides crypto trading, custody, staking and lending services. It will establish a new center in Vietnam to handle many back-office and administrative roles.

Vietnam develops new crypto-asset monitoring mechanism

Vietnamese regulators are building a supervisory mechanism covering crypto asset service providers and investor transactions, drawing on recommendations from the Financial Action Task Force (FATF).

Binance signs MOU to develop Vietnam finance center

Binance, the world's largest exchange, has signed a memorandum of understanding to help develop the Vietnam International Finance Center in Ho Chi Minh City.

Singapore

Singapore Exchange wins CFTC nod for US perps

Exchange has become the first major Asian traditional finance exchange to receive approval from the Commodity Futures Trading Commission to offer Bitcoin and Ethereum perpetual futures to US institutions. Perpetual futures differ from conventional futures in that they carry no expiry date, allowing positions to remain open indefinitely.

High Court offers guidance on valuing crypto assets

A recent Singapore High Court decision provides a precedent for valuing crypto assets in claims, departing from the usual breach-date damage assessment principles, according to law firm Reed Smith. “The court is unlikely to allow claimants to delay mitigation for years and then seek damages at a higher present-day market price,” the firm noted.

Six Malaysians jailed for crypto poker robbery

Six Malaysian men were sentenced in Singapore to prison terms of up to 12 years and 11 months, along with 24 strokes of the cane, over a 2024 armed robbery involving crypto, cash and luxury items.

Thailand

Thailand SEC proposes 5 million baht daily stablecoin transfer cap

Thailand's SEC has proposed new stablecoin regulations that would prohibit users from transferring more than 5 million baht per day, worth around $151,000.

Malaysia

Malaysia ranks among the more crypto-friendly Islamic nations

According to Fitch Ratings, Malaysia is one of the most crypto-curious Muslim-majority nations, with the local Securities Commission having declared Bitcoin, Ethereum, Ripple and Stellar sharia-compliant.

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This roundup was originally published by Cointelegraph.