South Korea Uncovers 30 Cases Unfair Trading
South Korea’s financial authorities said they investigated 40 suspected cases of unfair crypto trading since the Virtual Asset User Protection Act took effect in July 2024.
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South Korea’s financial authorities said they investigated 40 suspected cases of unfair crypto trading since the Virtual Asset User Protection Act took effect in July 2024.
South Korea Uncovers 30 Cases Unfair Trading
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Written by
Felix Ng
staff editor
Reviewed by
Yohan Yun
staff editor
Written by
Felix Ng
staff editor
Reviewed by
Yohan Yun
staff editor
South Korea probed 40 cases of crypto manipulation over 2 years
Latest News
Published
Jul 20, 2026
Financial Services Commission Chair Lee Eog-won posted the figures on the second anniversary of the enactment of the Virtual Asset User Protection Act.
South Korea’s financial authorities investigated more than 40 cases of unfair trading, including market manipulation and fraudulent crypto trading, in the last two years.
According to an X
post
by Financial Services Commission Chair Lee Eog-won, 30 of them reported or referred to investigative agencies, identifying 25 suspects since the Virtual Asset User Protection Act took effect in July 2024.
Lee said the average unlawful gains were around 1.4 billion Korean won ($940,000).
“Today marks the second anniversary of the enactment of the ‘Virtual Asset User Protection Act...’ It was a meaningful time that brought the virtual asset market, which was outside the institutional framework at the time, into the fold of the law and created an opportunity to establish a user protection system for virtual assets,” said Lee.
Related:
South Korea to bring digital assets under new state asset management system
The Virtual Asset User Protection Act is
designed to protect users
who buy and store crypto assets with virtual asset service providers.
VASPs are legally required to separate user deposits and virtual assets from their own corporate holdings, holding client deposits in banks.
The legislation also targets illicit activities such as insider trading, wash trading and market manipulation, enhancing the Financial Services Commission (FSC) authority to supervise and inspect VASPs.
“We will continue to enhance market surveillance investigation and monitoring systems based on AI, and proactively respond to high-risk areas,” Lee added.
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South Korea
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This article is sourced from CoinTelegraph. It is for informational purposes only and does not constitute investment advice.
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