The five biggest crypto exchanges in South Korea have signed a “crypto crime-fighting” MOU deal with the nation’s police force – and will work with officers fighting crypto-powered money launderers and crypto scam artists.
According to Fn News, the exchanges – the market-leading Upbit and Bithumb, as well as Korbit, Coinone, and Gopax – have agreed to work with police investigations into “crimes related to virtual assets” and “prevent damage” to investors.
The police explained that the rate of crime “in the investment sector” was now on the rise and spoke of a fast-developing crypto and stock investment “craze.”
Officers also noted that the size of the domestic crypto market is continuing to rise – although the past few months have seen a slowdown with the onset of the bear market.
But, they noted, more and more South Koreans are now becoming crypto investors.
And this, they stated, was leading to a rise in opportunistic crime, as scammers attempt to deceive the victim with promises...
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