The crypto can be booming in South Korea, but the scams and the authorities are finally drawn.
APPLICATIONS – The police have just arrested 25 people related to a network of false cryptographic investment rings that targeted daily investors with promises of yields from the sky. However, history does not stop there.
Because if the police retract fraud, the country’s political leaders are preparing to take the dominant current of cryptography.
What does all this mean for the future of crypto in the country? This is what is hot.
Cryptographic fraud rings have burst
The Jeju authorities arrested 25 people linked to four coordinated cryptography swindle rings. Their method was clear, calculated and dangerously convincing.
Operating under the guise of legitimate investment companies, these groups created call centers, pretended to be cryptography advisers and attracted without distrust. They directed them towards false exchanges, flashed false benefits on manipulated dashboards and promised payments that have never come. As the victims tried to withdraw, the crooks had already left – disappearing with around $ 540,000 in stolen funds.
The police have placed 20 people in detention, with others under legal control. Investigators believe that there are even more victims to come forward and perhaps the higher level players still out of reach.
Politicians kiss the crypto
Here is where things become interesting: even if the police are winding fraud, the political climate in South Korea becomes more and more user -friendly.
The three presidential hopes expressed their support Bitcoin FNB spot and broader institutional access to cryptographic markets. This is a significant change for a country where 100% of the exchanges of cryptography still come from retail investors.
Main candidate Lee JAE-MYUNG has undertaken to reduce negotiation costs and build safer investment conditions, aimed at supporting the younger generations who seek to create wealth thanks to digital assets.
But there is a hesitation in the air – analysts like Anndy Lian Remind us that similar promises have been made before and have never really materialized.
What it means for the crypto in South Korea
South Korea is in an interesting position. At one end, he exhibits and dismantles elaborate fraud rings that target daily investors. On the other, this indicates an opening to the regulated participation of institutional cryptography.
As long as the balance between regulations and support is found, this is excellent news for industry!
What is clear is the following: scams like these have no room in a market that tries to become legitimate. And if the country follows its ETF ambitions, regulatory spotlights will only become brighter.
