This Week In Crypto Asia: Metaplanet Bets On South Korea, Binance Cooperates With India’s FIU

Recent developments paint a complex picture of crypto in Asia, where, on one hand, established firms are doubling down on regulated digital assets, while law enforcement agencies grapple with surging wrench attacks and criminal misuse of cryptocurrencies.

Metaplanet Acquired South Korea’s SGA To Strengthen Its Bitcoin Strategy

The Japanese Bitcoin Treasury firm, Metaplanet, has acquired a controlling stake in the South Korean publicly listed software company, SGA. If finalised, SGA would be able to acquire Bitcoins as part of a broader digital strategy.

According to an article published on 15 July 2025, the company’s CEO, Simon Gerovich, entered into a consortium with Hong Kong-based Moon Inc., Bangkok’s Kliff Capital, Taipei’s crypto-focused venture capital firm, Sora Ventures and UTXO Management, a Bitcoin-focused investment and advisory firm, to advance its Bitcoin accumulation campaign in Asia.

METAPLANE'T BUYS INTO SGA: STRATEGIC PLAY

Japanese firm Metaplanet invests $25M in SGA, a South Korean system software developer, via rights offering. Crypto-aligned entities expand influence into traditional tech.

— BlueAsterCapital (@BluAsterCapital) July 14, 2025

Although Gerovich is listed as an independent investor, this move aligns with Metaplanet’s Bitcoin accumulation strategy by transforming traditional companies into Bitcoin-linked entities and then further using them as vehicles for Bitcoin exposure in regional capital markets.

While both the SGA board and Korea’s Financial Services Commission have signed off on the issuance of 58 million shares to the consortium, the final agreement is still pending.

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Crypto In Asia Faces Security Crisis As Wrench Attacks And Bitcoin Thefts Rise

According to a recent report published by Chainalysis on 17 July 2025, wrench attacks targeting crypto holders have surged in the APAC region in 2025. Compared to 2021, the previous worst year for such cases, attacks have nearly doubled, with 35 cases reported so far.

Moreover, these are not siloed events. The APAC region is witnessing wrench attacks as well as a wave of crypto thefts, with over $2.17 billion stolen from crypto platforms in the first half of 2025, exceeding 2024’s total.

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