Upbit Launches Quiz Event to Prevent Cryptocurrency Ponzi Scams

Upbit, which recently blocked deposits and withdrawals to suspected Ponzi scam companies, is now launching an investor education initiative by holding a Ponzi Scam Prevention Quiz Event.

Dunamu, the operator of the virtual asset exchange Upbit, announced on the 28th that it will hold a Ponzi Scam Prevention Quiz Event to take the lead in creating a sound and safe virtual asset investment environment.

As reports of Ponzi scams targeting virtual assets have been increasing recently, Upbit was the first to strengthen investor protection. First, Upbit swiftly restricted withdrawals to Quantvine, one of the suspected fraudulent fundraising companies. Following Upbit’s proactive measures, other domestic exchanges also issued warnings, and authorities launched investigations, helping to reduce further damage.

In addition, Upbit is conducting a Ponzi Scam Prevention Quiz Event for users to provide protective activities through investor education, covering everything from scam prevention methods to how to respond if scammed.

The Ponzi scam prevention content prepared by Upbit is designed to be easy to understand, including detailed explanations of the unfamiliar Ponzi scams, ways to prevent damage, and tips on how to respond if scammed.

Users who wish to participate can study the Ponzi scam prevention content and take the quiz. Upbit will draw 10,000 perfect scorers and award a total prize of 1 Bitcoin.

This Ponzi Scam Prevention Quiz Event can be participated in through the Upbit website’s announcements until the 31st, and users can attempt the quiz once daily until they achieve a perfect score.

A Dunamu official said, “We are holding this quiz event to raise awareness about increasingly sophisticated Ponzi scam tactics,” adding, “We plan to continuously provide useful educational content to help protect our customers’ valuable assets.”

Meanwhile, Upbit operates continuous monitoring and a reporting channel for suspected Ponzi scam companies to minimize the possibility of user damage caused by financial crimes. Users can report multi-level marketing companies and malicious users through the ‘1-on-1 Inquiry’ tab in the Upbit customer center.