​South Korean Police Form New Crypto Scam-fighting Cybercrime | Crypto Retro

​South Korean Police Form New Crypto Scam-fighting Cybercrime Taskforce

South Korean police have announced that they will launch a new crypto scam-busting cybercrime taskforce.

KBS reported that police say that one of the new taskforce’s “three main tasks” will be dismantling and fighting crypto scams. Crypto-related fraud is on the rise in South Korea, with several high-profile scams galvanizing the public of late.

These include V Global, a realistic-looking crypto exchange that duped scores of victims with Ponzi-type multi-layered marketing tactics. A fake “crypto bank” also left investors out of pocket to the tune of some $181 million. And smaller-scale voice phishing, fake crypto mining platforms, and dating app scams have targeted individual citizens.

The National Police Agency (NPA) explained that the taskforce would have “three subcommittees.” One of these will be dedicated to the “analysis” of cryptoassets. The other subcommittees will deal with the darkweb and distributed denial-of-service (DDoS) attacks and other forms of cyber terrorism.