V Global, a South Korean crypto exchange valued at roughly 2 trillion won (about $1.5 billion USD), has been subjected to a government investigation, with six of its executives facing arrest and imprisonment from cases filed by the South Korean government’s regulatory authorities.
According to initial reports from the The Economist, V Global’s execs allegedly enthused investors with the promise of 300% in APY or returns. This promise was coupled with huge referral bonuses for bringing in other investors into what is now being revealed as large-scale fraud network.
South Korean regulators, who have been clamping down on crypto exchanges for some time now, declared that V Global had misused its customers’ funds. South Korea’s Financial Supervisory Service (FSS), the country’s integrated financial regulator, has warned investors to be wary of any suspicious investment proposals in the future, especially those promising abnormally high rewards.
The South Korean government’s arrest of V Glo
We współpracy z: https://cryptodaily.co.uk/2023/01/south-korean-crypto-exchange-execs-arrested-for-fraud
