The damage from crimes committed over the past two years in the field of cryptocurrency, the Ministry of Justice of South Korea estimated at almost 2.7 trillion won ($ 2.3 billion). This is reported by the local edition of The Korea Herald.
Thus, in the period from July 2017 to June 2019, 132 criminals were detained and received prison sentences, while another 288 fraudsters suffered administrative punishment.
In general, according to the ministry, as a result of various cryptocurrency crimes – from financial pyramid organizations to misappropriation of funds – South Korea suffered a loss of 2.69 trillion won (about $ 2.28 billion).
One of the main reasons for such impressive numbers is the hacking of cryptocurrency exchanges , which often turn into million losses for trading platforms.
Meanwhile, the number of cryptobirds continues to grow, the researchers state. So, in May in South Korea, there were 205 trading platforms. The main reason, according to analysts, is the lack of clear regulation of the operation of cryptocurrency sites and rules prohibiting working with “non-transparent accounts” that allow exchanges to preserve the anonymity of their clients.
As the newspaper notes, the head of the Ministry of Justice of South Korea last month ordered to tighten measures against cryptocurrency criminals. In addition, the government has already proposed to ban work with "non-transparent accounts", but the court did not support the initiative.
Recall, recently, the South Korean regulator ordered five local cryptocurrency exchanges to indemnify their customers, even if the loss of funds is not their fault.
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