Beware of Illegal Virtual Asset Scams: Seoul Government Issues Fraud Warning
CryptoNewsTerminal Staff04 Aug, 2024
Beware of Illegal Virtual Asset Scams: Seoul Government Issues Fraud Warning
The Seoul Metropolitan Government's Public Safety and Security Bureau has issued a fraud warning regarding illegal multi-level virtual asset scams targeting retirees. According to the bureau, there has been an increase in cases of illegal multi-level marketers targeting elderly individuals in the Gangnam-gu Teheran-ro area. These marketers promise high returns on virtual assets (coins, cash, pay, etc.) to entice victims into signing up for memberships and making investments. However, once the victims invest their money, the marketers often misappropriate the funds. The bureau urges the public to exercise caution and avoid falling for these scams. It recommends that people only invest in virtual assets through reputable companies and platforms. Additionally, it advises people to be wary of any unsolicited investment offers, especially those that promise high returns with little risk. If you suspect that you have been the victim of an illegal virtual asset scam, you should report it to the authorities immediately.
