RATE Group | Damage from cryptocurrency-related crimes estimated at 2.7 tln won
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Damage from cryptocurrency-related crimes estimated at 2.7 tln won

21 Jul Damage from cryptocurrency-related crimes estimated at 2.7 tln won

Posted at 02:50h in Cryptocurrency News by

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SEOUL, July 21 (Yonhap) – The financial damage caused by cryptocurrency-related crimes reached nearly 2.7 trillion (US$2.3 billion) over the past two years, government data showed Sunday.

The financial loss of scams and fraud involving cryptocurrencies came to 2.69 trillion won between July 2017 and June 2019, according to the data from the justice ministry.

The ministry said 132 cryptocurrency-related criminals and fraudsters have been indicted and detained, with another 288 indicted without physical detention over the cited period.

While the nation’s fever for cryptocurrency trading has fallen off, crimes related to cryptocurrency exchanges have become more frequent.

Last month, Justice Minister Park Sang-ki ordered stern measures against cryptocurrency criminals, ordering the prosecution to claw back the gains from such crimes.

Meanwhile, the number of cryptocurrency exchanges in South Korea has risen amid a lack of regulations preventing investors trading virtual coins…

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