The Korea Virtual Asset Reporting Center received over 3,000 reports in a year, with 15% involving false advertising

2024-09-23 14:54:45

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According to ChainCatcher news, data obtained by Lee In-young, a member of the Democratic Party of Korea, from the Financial Supervisory Service shows that as of July this year, the Virtual Asset Investment Fraud Reporting Center (now the Virtual Asset Unfair Trading Reporting Center), established and operated since June last year, has received a total of 3,036 reports. In 2023, a total of 1,532 reports were received, of which 44% were other reports unrelated to virtual assets or difficult to classify. The next highest categories were false exaggeration advertising (15%), online fraud (14.6%), investment guidance groups (11.9%), and romance scams (11%).

Among the 1,532 reports received in 2023, only 36 involved unfair trading, accounting for just 2.3%.

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South Korea virtual assets fraud

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