Upbit has launched its latest campaign against voice phishing scams in South Korea, targeting fraudulent schemes that promise investors compensation for losses.
The campaign highlights the persistence of crypto scams and emphasizes the need for vigilance, as no market or asset-specific impacts have been observed.
Upbit’s latest Voice Phishing Prevention Campaign addresses scams promising to recover losses, declaring such offers as a 100% scam, focusing on educating users about scams.
Upbit Declares Loss Compensation Offers as Scams
Upbit’s latest Voice Phishing Prevention Campaign addresses scams promising to recover losses. The campaign declares any offer of loss compensation as a 100% scam, based on official communications from Upbit’s support portal and announcements.
Upbit, operated by Dunamu Inc., South Korea’s largest crypto exchange, launched this campaign. No new funds are allocated, and key executives Sirgoo Lee and Alex Kim have not released personal statements. The focus is on educating users about scams.
No Market Impact from Upbit’s Warning Campaign
There is no noticeable impact on financial markets or specific assets. The broad focus is on preventing voice phishing attempts involving common crypto assets like BTC and ETH. Upbit’s announcements aim for user protection rather than altering trading operations.
Historically, similar scams have targeted South Korean crypto users. This campaign reaffirms warnings from Korea’s Financial Supervisory Service, urging users to ignore unsolicited loss recovery offers. No unique targeting of governance or DeFi tokens has been identified.
Phishing scams persist despite previous campaigns. Upbit stresses checking the credibility of offers promising guaranteed compensation, emphasizing the importance of user vigilance.
Scams Persist Despite Previous Upbit Campaigns
Phishing scams have periodically targeted South Korean crypto holders, highlighting the importance of verifying official channels. Upbit’s previous campaigns have similarly stressed checking the credibility of investment offers promising guaranteed compensation.
“Be suspicious if a site promises to compensate losses with specific digital assets and encourages site registration and wallet creation. Impersonation of Upbit or other exchanges’ employees may occur. Never access QR codes and links shared with business cards.” — Upbit Support
Kanalcoin experts note the campaign’s educational focus on user vigilance. Historical data indicates these scams persist, despite not causing market upheavals. Security education continues to be a critical tool in combating crypto frauds.
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