The Financial Intelligence Unit (FIU) under the Financial Services Commission warned on the 2nd that "illegal virtual asset operators active on platforms such as Telegram, open chat rooms, and YouTube have been springing up one after another," urging caution regarding illegal virtual asset operators.
According to the FIU, as of now a total of 27 virtual asset operators have filed business reports with the financial authorities. All virtual asset operators other than these are illegal. The FIU is notifying investigative agencies of illegal operators identified through complaints and tips, or requesting access blocks on applications (apps).
Illegal virtual asset operators mainly approach investors in forms such as ▲ anonymous stablecoin (Tether, etc.) exchange via Telegram and open chat rooms ▲ promotion and brokering of unreported overseas exchanges ▲ hwanchigi (unregistered foreign exchange business) mediated by virtual assets. Monetary damage cases are also increasing, such as deceiving buyers by pitching worthless coins as having "surge potential," or taking only the purchase price without delivering the coins.
The FIU said, "Illegal virtual asset operators are highly likely to be involved in various criminal acts, including fraud, tax evasion, and violations of the Foreign Exchange Transactions Act," and noted, "If you conduct a transaction with them, it may be difficult to obtain relief even if monetary damage occurs."
If conduct suspected of handling illegal virtual assets is observed, reports can be made to the Financial Intelligence Unit, the Digital Asset eXchange Alliance (DAXA), and the police, and individuals can also file a complaint directly with investigative authorities.