South Korea
Digital Asset
Coinone Supports Refund of 7.5 Billion Won in Voice Phishing Damages Over Three Years
- From October 2023 to September 2026, Coinone worked with the Seoul Metropolitan Police Agency to directly refund victims about 2.47 billion won across 83 cases.
- With its real-name account partner bank, Kakao Bank, Coinone set up a refund procedure that supported 412 cases totaling about 5.01 billion won.
- Coinone noted that prior to the revised Telecommunications Fraud Refund Act taking effect on October 1, digital asset exchanges were not classified as financial companies, leaving no formal process to verify victim information and issue refunds.