Korean Financial Authorities: Beware of Fraudulent Investment Schemes Using Private Virtual Asset Fundraising and Impersonating Foundation Staff
On August 3, TuoniaoX.com reported that Korean financial regulators issued warnings about fraudulent schemes that deceive investors by using private virtual asset fundraising as a cover and impersonating foundation staff to recommend investments. According to the Financial Supervisory Service, since establishing the "Virtual Asset Investment Fraud Reporting Center" in June, they have received 406 reports. Multiple confirmed fraud cases involve false advertisements promising high returns and impersonating exchange foundation employees to deceive investors.
On August 3, TuoniaoX.com reported that Korean financial regulators issued warnings about fraudulent schemes that deceive investors by using private virtual asset fundraising as a cover and impersonating foundation staff to recommend investments.
According to the Financial Supervisory Service announcement on the 3rd, since establishing the "Virtual Asset Investment Fraud Reporting Center" in June, they have received 406 reports. Multiple confirmed fraud cases involve false advertisements promising high returns and impersonating exchange foundation employees to deceive investors. The Financial Supervisory Service has classified "private investment recommendations" by quasi-investment advisors as a typical type of fraudulent reporting.
The financial authorities also emphasized the need to be vigilant against individuals impersonating virtual asset foundation employees, who claim to be foundation staff and falsely assert that virtual assets are about to be listed on exchanges, recommending low-price purchases.