▲ An investment seminar held at a location in Seoul on the afternoon of the 6th. The event featured presentations and investment solicitations for a coin not supported for trading on domestic virtual asset exchanges.
Caution is required as a company that previously caused massive financial damage through a "delisting" incident is once again inducing middle-aged and older adults to invest in unlisted coins.
At a recent investment seminar held in various parts of Seoul, elderly attendees are being encouraged to invest with claims that a coin currently worth less than 100 won will soar up to 1,000 won once listed overseas.
A middle-aged woman acting as a lecturer at the investment seminar explained that she herself invested believing the price would rise, and that she had accumulated 300,000 coins by reinvesting dividends received weekly in Tether (USDT).
She also claimed that the coin is scheduled to be listed on an overseas virtual asset exchange next month (September) and that the company is pursuing new businesses drawing interest from abroad, urging attendees to "invest and make some living expenses."
When an investor voiced complaints by saying, "You said it would be listed in August, but now you are saying September and October. It will soon be next year," the woman calmly dismissed it, saying, "You just need to wait a little longer."
It was confirmed that this company previously sold virtual assets using similar tactics, which led to a delisting and a 98% plunge in price from its peak.
The company pursued its business without a Virtual Asset Service Provider (VASP) license, resulting in a notice of deposit suspension from its partner bank, and exchanges terminated transaction support due to potential legal violations.
Despite this, the company continues its operations in plain sight, exploiting the psychology of some victims who hesitate to file complaints in hopes of recovering their principal by offering to exchange past coins for newly minted tokens.
Amid a lack of clear sanctions from police and the Financial Supervisory Service, the number of coins delisted from won-market exchanges since 2022 is nearing 400.
Experts point out that "there is an urgent need to establish clearer and stronger legal regulations to thoroughly block clever loophole operations that craftily walk the line between legitimate investment solicitation and illegal fraud."
(Photo: Yonhap News)
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