Could Virtual Assets Soon Be Terminated?

IconCryptoNewsTerminal Staff22 Aug, 2024

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Could Virtual Assets Soon Be Terminated?

Could Virtual Assets Soon Be Terminated? The Financial Supervisory Service (FSS) has issued a consumer warning about the increasing number of fraudulent money scams targeting virtual asset users. The warning comes as the number of virtual business operators who have closed their business due to the enactment of the Act on the Protection of Virtual Asset Users has increased. The FSS urges consumers to take the following precautions to avoid falling victim to scams: Always check the official homepage of the virtual asset operator to verify if they have closed their business and their withdrawal support policy. Do not click on links included in SNS or spam messages, and report any suspected fraudulent sites to the Korea Internet & Security Agency. Never deposit money into unverified companies or personal accounts. Check if the virtual asset operator has been reported to the Financial Intelligence Unit (FIU). If you suspect illegal virtual asset fraud, secure supporting documents and report them to the police or the FSS's Virtual Asset Unfair Trade and Investment Fraud Reporting Center. By following these precautions, consumers can protect themselves from fraudulent money scams and ensure the safety of their virtual assets.

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