Holding High-Risk Briefings Despite Past Losses... "Wait and Hit the Jackpot"

Caution is required as a company that previously caused massive damages through a "delisting" incident is once again inducing middle-aged and elderly individuals to invest in unlisted coins.

At a recent investment briefing held in various parts of Seoul, speakers encouraged seniors to invest, claiming that a coin currently worth less than 100 won would soar up to 1,000 won once listed overseas.

A middle-aged woman acting as a lecturer at the investment briefing 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 urged attendees to "invest and make some living expenses," claiming that the coin is scheduled to be listed on an overseas virtual asset exchange next month and that it is pursuing new business ventures drawing attention abroad.

When an investor voiced complaints by saying, "You said it would be listed in August, and now you are saying September or October. It will soon be pushed to next year," the woman acted unfazed and persuaded them by saying, "You just need to wait a little longer."

It was confirmed that this company previously sold virtual assets using a similar method, which led to delistings and caused prices to plummet by 98% from their peak.

The company pursued its business without a Virtual Asset Service Provider (VASP) license, resulting in its partner bank issuing a notice to suspend deposits, while exchanges terminated trade support citing 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 old coins for newly created 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, "There is an urgent need to establish clearer and stronger legal regulations to fundamentally block trick operations that cleverly walk the line between legitimate investment solicitation and illegal fraud."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.