Upbit to secure soundness of crypto market

Advance ‘Dictionary Checklist’ Customer Center

Upbeat is actively taking measures to prevent “don't ask investment fraud” as part of strengthening public relations with customers to prevent financial fraud.

Doomu (CEO Lee Seok-woo), the global standard cryptocurrency exchange upbit, announced on the 18th that it will introduce a 'customer consultation pre-checklist' containing the precautions when investing in cryptocurrency into its upbit lounge consultation course.

The domestic cryptocurrency market is operating with exchanges that have not yet been verified due to the lack of a license system.

This has resulted in damage cases such as issuing worthless cryptocurrencies and recruiting investors.

In addition, after the investment was made, there was a problem such as closing of the exchange or concealment of representatives, which required a guide to prevent the spread of the damage.

Upbit disclosed the checks that should be checked before investing in cryptocurrency and included them in the customer consultation process.

Investors are actively working to prevent accidents so that they are not involved in multi-level or similar-scams.

Upbit has five prior checklists.

First, if you are invited to join the exchange by attending a briefing session held at a place other than the cryptocurrency exchange, and second, if you are encouraged to invest by acquaintances, and you decide to receive compensation such as referral allowance or dividend, it may be a fraud.

Third, be warned when you are told that the cryptocurrency you want to invest is going to be listed on Upbit. Fourth, if the cryptocurrency issuer is affiliated with Upbit, be sure to contact the Upbit Customer Center before investing.

It was recommended to check the relationship.

The fifth and fifth is typical financial fraud when the cryptocurrency to be invested is informed by the type of exchange issued by the exchange, if the information on the exchange site is missing basic information such as volume, location, security certification, or the screen does not work even if the menu is clicked.

Special care should be taken.

A Doosan official said, “We have introduced a preliminary checklist in order to lead investor protection and market cleanup in the event that cryptocurrency incidents continue to occur.” If a financial fraud is suspected or damaged, related financial institutions

"We need to immediately report it to the law enforcement agency and reduce the accident."

Meanwhile, Upbit is not only transparent to the KYC (American Identity Checking), AML (Anti-Money Laundering) level, but also to the financial fraud prevention guide using the site and official social media channels.

We are continuously carrying out activities to create a market environment.