South Korea FSC Crypto Freeze Total Reaches $61.4 Million Since 2019

• South Korea’s Financial Services Commission reports freezing $61 million in crypto since 2019
• Freezes targeted telecom fraud linked to Bithumb and violations of the User Protection Act
• Actions across Bithumb, Coinone, Korbit, Gopax show sustained regulatory enforcement

South Korea’s Financial Services Commission (FSC) disclosed it has frozen approximately $61.4 million worth of cryptocurrency assets across various trading platforms over the last six years. This cumulative figure, revealed in a report submitted to lawmaker Wi Seong-gon’s office, underscores the regulator’s persistent efforts to combat illicit activities and enforce compliance within the nation’s rapidly evolving digital asset sector. The freezes stem primarily from suspected fraud and violations of the Virtual Asset User Protection Act.

FSC Data Reveals $61.4M Crypto Freeze Targeting Fraud, Act Viol…

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