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Office worker A received an appealing offer from the virtual asset (cryptocurrency) exchange he used last year. If you invest in a self-developed coin, you will pay the principal and a fixed return of 300%. After the Specific Financial Transaction Information Act came into force, it was difficult to make high-yield investments. As the company said, Mr. A invested a large amount. Shortly thereafter, the company went bankrupt.
In the midst of a correction in the stock market and other asset markets, ‘similar receipts’, which claim to guarantee high returns, are popular. In particular, recently, methods using the ‘cryptocurrency investment boom’ are increasing, so investors need to be careful.
Similar receipt refers to the act of raising funds in the name of investment from a large number of unspecified persons by agreeing to pay more than the principal without authorization, permission, or registration. In case of similar reception, imprisonment of up to 5 years or a fine of up to 50 million won may be imposed.
According to the Financial Supervisory Service (FSS) on the 27th, the number of Internet reports received through similar receptions at the Financial Supervisory Service’s ‘Illegal Financial Reporting Center’ was 307, more than doubled from 152 in the previous year. The number of telephone consultations was 680, similar to 692 in the previous year.
The Financial Supervisory Service commissioned an investigation into 61 cases and 71 companies with specific double allegations and evidence. Based on the number of investigation requests, the number of ‘virtual asset-related similar receipts’, which took advantage of the cryptocurrency investment craze, more than doubled from 16 cases to 31 cases.
Virtual asset pseudo-receipt is largely divided into Δvirtual asset investment type, Δexchange type, and Δinvestment discretionary type.
The virtual asset investment masquerading type is a method of defrauding after raising funds by publicizing that the virtual asset developed by the company is scheduled to be listed and that principal and high returns are guaranteed. Some people are deceived by showing a false price graph that the virtual asset has been listed and the price has skyrocketed.
In the exchange type, when investing in the virtual asset exchange business, it is an incentive to pay not only the principal and fixed income, but also a recommendation allowance from customers when it attracts investors. The discretionary investment type raises funds by promoting that there is no risk as much as trading through artificial intelligence. Mainly, investors are deceived by methods such as mobilizing ‘wind hunters’ in investment information rooms (coin reading rooms) to authenticate high returns.
In addition, when investing in coins necessary to purchase specific content produced by the company, the ‘business-linked type’ approach, which seeks to distribute profits from business growth, is also a type to be aware of.
Similar reception related to the platform business is also popular. Based on the investigation request by the Financial Supervisory Service last year, the number of similar receptions through online platforms increased from 5 to 13. A typical example is the type of ‘virtual character’ that advertises that the price increases even if you buy virtual characters such as clothing or jewelry online.
An official from the Financial Supervisory Service said, “If you raise funds with promises of principal and high profits, you should be suspicious of fraudulent receiving.” Before making an investment, it is necessary to thoroughly check the reality of the business, etc.”
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