Increase in Unfair Trading of Virtual Assets
Suspicious Peer-to-Peer Transactions... Beware of Fake Wallets
#. Fraudsters introduced themselves as the B Coin Foundation, which had acquired a leading A reading company (stocks or lotto), and deceived victims by claiming they would provide coins for free as compensation for losses in reading rooms and lotto. They also provided links to coin wallet sites to induce sign-ups. Later, they encouraged additional purchases by saying coins could be bought at prices lower than the market rate and reassured victims by presenting manipulated documents about upcoming listings on exchanges. They then fabricated the appearance of actually providing coins through fake coin wallet site screens. Victims were unable to sell even after the promised lock-up period had passed, and in some cases, access to the wallet site was blocked.
On the 7th, the Financial Supervisory Service issued a consumer alert 'Caution,' stating that scams continue to occur where fake coins with the same names as those listed on virtual asset exchanges are deceptively offered for free or at discounted prices to embezzle investment funds.
The Financial Supervisory Service pointed out that selling coins already listed on exchanges at prices lower than the market rate is an unusual practice that should be kept in mind.
They also urged people not to be deceived by unverified information such as promotions claiming upcoming listings on domestic exchanges. Actual new coin listing information on domestic exchanges is highly confidential, and external promotions are prohibited.
Investors should also be aware that scam organizations can manipulate screens to make it appear as if actual coins have been provided. This is a fraudulent method that fabricates virtual asset wallet screens to deceive investors. Cases include providing separate links or inducing the installation of unfamiliar wallets.
The Financial Supervisory Service also warned that coin sales through personal transactions rather than exchanges are highly likely to be scams. Similarly, acts that reassure investors by presenting manipulated payment guarantees or commitments claiming to compensate for losses are also fraudulent.
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